Serentica Renewables on Thursday said it has entered into an agreement with state-owned Solar Energy Corporation of India (SECI) for a 100 MW clean energy project.
The renewable power producer also said that the agreement is India's first-ever "load following" power purchase agreement (PPA), designed in coordination with SECI and state DISCOMs to match the seasonal load profile of the offtakers.
Under the load following PPA, power supplier commits to delivering electricity as per the buyer's actual electricity demand on an hourly or sub-hourly basis.
Under the agreement, Serentica will be required to fulfill 80 per cent of the specified hourly demand each month, with load obligations ranging from 17 megawatt (MW) during low-demand hours to 100 MW during peak demand.
To meet this unique requirement, the company will deploy a diversified technology mix of wind, solar, and battery energy storage systems (BESS).
The project is expected to generate over 400 GWh of clean energy annually.
Akshay Hiranandani, CEO, Serentica Renewables, said, "By signing the country's first load-following PPA with SECI, we are demonstrating how innovation in renewable contracting can accelerate decarbonization while also strengthening the stability and resilience of the power grid."
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The company did not share any information related to the tariff and location for the project.
The renewable power producer also said that the agreement is India's first-ever "load following" power purchase agreement (PPA), designed in coordination with SECI and state DISCOMs to match the seasonal load profile of the offtakers.
Under the load following PPA, power supplier commits to delivering electricity as per the buyer's actual electricity demand on an hourly or sub-hourly basis.
Under the agreement, Serentica will be required to fulfill 80 per cent of the specified hourly demand each month, with load obligations ranging from 17 megawatt (MW) during low-demand hours to 100 MW during peak demand.
To meet this unique requirement, the company will deploy a diversified technology mix of wind, solar, and battery energy storage systems (BESS).
The project is expected to generate over 400 GWh of clean energy annually.
Akshay Hiranandani, CEO, Serentica Renewables, said, "By signing the country's first load-following PPA with SECI, we are demonstrating how innovation in renewable contracting can accelerate decarbonization while also strengthening the stability and resilience of the power grid."
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