ReNew's hybrid round-the-clock (RTC) battery-enabled renewable project

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This project involves the development of 900 MW of wind farms, 400 MW of solar plants and 100 MW of battery storage across the states of Rajasthan, Karnataka and Maharashtra in India. This project is set as hybrid Round-the-Clock (RTC) battery-enabled one. The project will provide power to Solar Energy Corp. of India (SECI) at the rate of 2.90 per unit to begin with, which will increase 3% annually for 15 years and then stabilise for the remaining 10 years of the 25-year PPA. Sponsors of the project are Mitsui & Co with 49% stake and ReNew Power Ventures with 51% stake. Total investment stands at $1.32 billion and the $1 billion, 20-year green loan was provided by consortium of 12 international lenders, led by Rabobank and SMBC. Financial close took place on August 17, 2022. Realfin https://renewpower.in/wp-content/uploads/2022/08/Press-Release-ReNew-gets-1-bln-ECB-loan-biggest-ever-credit-for-single-project-in-Indian-RE-sector-17-08-22.pdf