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ReNew Power Bags the Highest Subsidy Allocation From SECI for Rooftop Solar Projects

GURGAON, India, November 28, 2016 /PRNewswire/ —

– ReNew Power has Been Allocated 49 MW Under SECI’s Rooftop Solar Mega Tender of 500 MW 

– Approx. 130 Bidders Participated and ReNew Power Won 10% of the Total Bid Capacity 

– The Solar Rooftop Projects Will be Targeted Towards Institutional as Well as Residential Sector Installations 

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.

     (Logo: http://photos.prnewswire.com/prnh/20150519/10123113 )

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.

About ReNew Power Ventures Pvt. Ltd.

ReNew Power Ventures Pvt. Ltd, an Independent Power Producer (IPP) company, is committed to leading change in the country’s current energy portfolio by delivering cleaner and smarter energy choices and thereby reducing India’s carbon footprint. ReNew Power’s mission is to play a pivotal role in meeting India’s growing energy needs in an efficient, sustainable and socially responsible manner. The company creates value through reliable and efficient generation of non-conventional power through innovation in solar and wind power solutions. ReNew Power has close to 3,000 MW of commissioned and under-construction clean energy capacity across the states of Delhi, Gujarat, Haryana, Punjab, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Telangana, Jharkhand, Uttar Pradesh, West Bengal, Tamil Nadu, Himachal Pradesh and Andhra Pradesh. 
For more information please visit: http://www.renewpower.in.

Follow ReNew Power on Twitter @ReNew_Power

Media Contact:
Ryan Alan Marshall
AGM
Corporate Communications
ReNew Power Ventures
ryan.marshall@renewpower.in
+91-9810047944

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