ReNew Power to set up 3 MW floating solar project in Vizag

Gurugram : Private renewable energy producer ReNew Power said on Monday that it has won an order for developing a 3 MW floating solar photovoltaic (PV) project in Visakhapatnam in Andhra Pradesh.

The project will be among India's largest floating solar PV projects, ReNew Power said in a statement here.

"ReNew won this project after participating in a bidding process conducted by the Greater Visakhapatnam Municipal Corporation (GVMC) for installation of a floating solar PV project at Meghadrigedda reservoir located in Visakhapatnam," it said.

The project is being financed by GVMC through a grant received from Asian Development Bank under their Urban Climate Change Resilience Trust Fund.

"In total, this project is estimated to generate around 4.2 million units of power annually, offsetting over 3,960 tonnes of carbon emissions every year," it added.

"Floating solar is an emerging technology trend with huge potential. We believe floating solar power plants can play a critical role in a country like India which has abundant water bodies," ReNew Power Head (Distributed Solar and Offtake) Prabhat Mishra said in a statement.

"As per industry estimates, if only 10-15 per cent of India's water resources are utilised for setting up floating solar plants, it could generate up to 300 GW of power."

The state-run Solar Energy Corporation has invited expressions of interest (EoI) to generate 10 GW through floating solar plants, the statement added.