The agreement duration for the project is 25 years and was signed after a competitive bidding process in February 2016, for 5MW installation at the airport. Once completed, the project will help CHIAL generate 8.4 million units of power annually and offset over 8,000 tonnes of carbon emissions annually. The power generated by the installation will be utilized for captive consumption of the airport and will reduce the cost of energy by 20%.
CHIAL is a subsidiary of Airports Authority of India (AAI) and this was one of the first bids under RESCO (Renewable Energy Service Company) model conducted by the AAI. As an innovation-driven enterprise which is committed to deliver value to stakeholders, ReNew Power will introduce a tracker facility for this project.
Commenting upon the business association, Mr. Sumant Sinha, Chairman and CEO, ReNew Power said, “At ReNew Power, we are firm believers that institutions such as the AAI have to lead and show the way to individuals on reducing greenhouse gas emissions. We are therefore delighted to be selected as a partner in the Chandigarh International Airport Limited’s attempts to reduce their carbon footprint. As their technology and innovation partners, ReNew will bring best-in-class expertise in project management and execution besides introducing the tracker technology to help CHIAL maximize its yield.”
ReNew Power has over 40 MW of commissioned and under-construction project capacity in distributed solar with marquee customers from various industry sectors like automobile, textile,IT and ITES, hospitality etc. In addition, ReNew has over 1,200 MW of commissioned utility scale assets and 1,800 MW under construction.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, 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 more than 3,000 MW of commissioned and under-construction clean energy capacity across the nine states in India (Maharashtra, Rajasthan, Karnataka, Gujarat, Madhya Pradesh, Haryana, Jharkhand, Telangana, and Andhra Pradesh).
About Chandigarh International Airport Ltd. (A subsidiary of Airports Authority of India) AAI, established through an Act of Parliament in 1995, creates, upgrades, maintains, and manages civil aviation infrastructure on the ground and within the territorial boundaries of India.
The authority manages over 120 airports. AAI also provides air traffic management services over the entire Indian air space and adjoining oceans with ground installations at airports and 25 other locations to ensure safety of aircraft operations. It provides air navigation services to over 2.8 million square nautical miles of airspace.