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Renewable energy firm ReNew Power Ltd said on Monday it has won a tender for developing a 3 MW floating solar power project in Visakhapatnam, Andhra Pradesh. “When commissioned, this project will be among the largest floating solar PV projects in India,” the company said in a statement here.
ReNew won this project, after participating in a bidding process conducted by Greater Visakhapatnam Municipal Corporation (GVMC) for installation of a floating solar PV project at Meghadrigedda reservoir located in Visakhapatnam, Andhra Pradesh.
This project is being financed by GVMC through a grant received from Asian Development Bank (ADB) under their Urban Climate Change Resilience Trust Fund. It is estimated to generate around 4.2 million units of power annually, offsetting over 3960 tonnes of carbon emissions every year, it said.
Speaking on this occasion, Prabhat Kumar Mishra, Head - Distributed Solar & Offtake, ReNew Power, said: “Floating solar is an emerging technology trend with huge potential and we are proud to be associated with this project at the Meghadrigedda reservoir, Visakhapatnam.”
“We believe floating solar power plants can play a critical role in a country like India which has abundant water bodies. Factors like higher efficiency and lower installation time have also contributed to floating solar gaining momentum of late,” he said.
As per industry estimates, if only 10-15 per cent of India’s water resources are utilised for setting up floating solar plants, it could generate up to 300 GW of power. “Our collaboration with GVMC in this initiative reflects ReNew’s commitment to deploy innovative solutions for generating clean energy to meet India’s growing needs,” he said.
ReNew is India’s largest renewable energy IPP (Independent Power Producer) in terms of total energy generation capacity. It has a total capacity of over 5.85 GW of wind and solar power assets across the country, comprising 3.92 GW of operational capacity, 1.66 GW of underdevelopment capacity, and 0.27 GW of recently awarded Solar Energy Corporation of India Ltd (SECI) project.
It develops, builds, owns and operates utility-scale wind and solar energy projects as well as distributed solar energy projects that generate energy for commercial and industrial customers.
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