ReNew Power bags the highest subsidy allocation from SECI for rooftop solar projects
ReNew Power Ventures Private Limited, India’s leading renewable energy development company, has emerged as the organization with the highest allocation under the mega tender of 500 megawatts of rooftop solar projects floated by Solar Energy Corporation of India Limited (SECI) – the designated implementing agency for this scheme, providing subsidy on roof top projects across various Indian states. The tender is targeted towards institutional (schools, colleges, universities etc.) and residential sectors, aiming to promote rooftop solar setups in these sectors. Approx. 130 bidders participated in the bid out of which ReNew Power was allocated at a tenth of the entire bid capacity at approx. 49 MW.
Expressing views on this development, Mr. Sumant Sinha, Chairman and CEO, ReNew Power mentioned, “It is really encouraging to see the government taking active measures to promote usage of renewables in India, especially solar! We always aim to walk hand in hand with the government in their efforts and make a prominent mark in the development of this industry.” Mr. Prabhat Kumar Mishra, Head Distributed Solar & Offtake, ReNew Power also commented, saying, “We are currently riding a growth wave and supplying renewable energy to more than fifty large industrial and commercial consumers across the country. This scheme will give a significant thrust to our business, especially to the distributed solar segment, which is now becoming a key focus area for the organization.”
Having an existing pipeline of approx. 100 MW under the distributed solar segment, ReNew Power plans to take this segment to new heights under the SECI scheme with special focus on educational institutes across the country.