New Delhi, Nov 16 (PTI) Clean energy firm ReNew on Thursday announced the commissioning of its first interstate transmission project.
The Koppal Transmission Scheme was executed in a compressed time schedule and will help in the transmission of 1,500 MW of renewable energy in the Koppal area of Karnataka, the company said in a statement.
The project was awarded in FY22 and covers the construction of a new 400/220 kV Sub-station at Koppal along with 276 Ckt Km (circuit km) of 400 kV D/C quad moose transmission line with an extension of the 400 kV GIS Bays at the PGCIL Narendra (New) substation.
The remaining transmission project for 3,500 MW is expected to be completed by June 2024.
Meanwhile, an agreement was signed on Wednesday for 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 Norway's newly established Climate Investment Fund, managed by Norfund.
ReNew has won 3 transmission projects in Karnataka to date under ISTS (Inter State Transmission Scheme).
The projects are part of the ISTS for transmission of 5 GW of wind and solar power potential identified in Karnataka under Phase-I for implementation and interconnection with ISTS grid, for a period of 35 years.
The state-owned Central Transmission Utility (CTU) will be responsible for billing, collection & disbursement of the revenue for these transmission projects.
"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 CFO of ReNew Pvt Ltd, said in the statement.
Anne Beathe Tvinnereim, Norway's Minister of International Development, said, "To secure the necessary investments for the vital energy transition, public funding must mobilise private capital. The signing between the Climate Investment Fund, ReNew and KLP is a great example of this." PTI KKS SHW