ReNew Power has signed an agreement with China-based Hareon Solar to develop 72MW solar project in the Indian state of Andhra Pradesh.
Hareon Solar will supply and install 234,161 crystalline silicon solar modules starting August, and complete the work December. The power plant is expected to enter service in March 2016. It is designed to serve more than 30,000 households.
ReNew Power chairman and CEO Sumant Sinha said: “By pairing Hareon’s high efficiency solar modules production with ReNew Power’s extensive experience in executing projects in India, we aim to significantly contribute to meeting India’s rapidly expanding energy requirements in a sustainable manner.”
The Southern Power Distribution Co. of Andhra Pradesh (APSPDCL) will purchase the power generated from the facility under a 25-year power purchase agreement (PPA).
Hareon Solar chairman and CEO Samuel Yang said: “This project is an important part of Hareon Solar’s strategic investments in the Indian solar market.”
In the next ten years, the Indian Government plans to invest up to $200bn to more than double the renewable sources to over 15% in its energy mix.