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

ReNew Power Monday said it has bagged the order for developing a 3 MW floating solar photovoltaic project in Visakhapatnam in Andhra Pradesh.

Once commissioned, this project will be among the largest floating solar PV projects in the country, the company said in a statement issued here.

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

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

"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.

He further said that factors like higher efficiency and lower installation time have also contributed to floating solar gaining momentum of late, with SECI inviting an EoI to generate 10 GW through this channel.

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, Mishra said.

This project is estimated to generate around 4.2 million units of power annually, offsetting over 3960 tonnes of carbon emissions every year.