The rest of the capacity of the Koppal Transmission Scheme of 3,500 MW is expected to be completed by June 2024, the company said.
The Koppal transmission project was awarded in FY22, which covers construction of a new 400/220 kV sub-station along with 276 circuit km of 400 kV transmission line.
The company has also signed an agreement on the second joint investment in the transmission sector with Norfund, the Norwegian Government’s Investment Fund for developing countries and KLP, Norway’s largest pension company, through their joint company KNI India AS.
Norfund’s share is from the country’s newly established Climate Investment Fund.
ReNew has won three transmission projects in Karnataka to date under the inter-state transmission scheme. The company’s transmission projects are part of the ISTS for transmission of 5,000 MW of wind and solar power potential identified in Karnataka under Phase-I of interconnection with grid for 35 years.The Central Transmission Utility (CTU), a wholly owned subsidiary of Power Grid Corporation of India Ltd, will be responsible for billing, collection and disbursement of the revenue for these transmission projects.“Investments in the transmission sector provide synergies with our core renewable energy portfolio…We are proud to partner with Norfund and KLP to support India’s green energy transition and look forward to strengthening this partnership in the future,” Kailash Vaswani, Group Chief Financial Officer of ReNew Pvt Ltd.
ReNew had, in February, changed its brand identity. Through the new brand the renewable independent power producer forayed into offering end-to-end solutions across the entire decarbonisation value chain.