31 October 2023
31 October 2023
Multi-buyer PPAs are a key tool that enable smaller companies in a range of sectors to get involved in renewable energy power purchasing.
The project will generate enough clean energy to meet the needs of 1.5 million New York homes.
The two companies have a combined pipeline of more than 37GW.
Located in the Karur/Tiruppur wind energy zone, the project strengthens the southern regional grid.
The wind farm will supply 100% of its clean electricity to Sainsbury’s under a 15-year power purchase agreement.
Engie is acquiring the portfolio for 3.24bn reais ($641.8m), which includes 971m reais of Atlas' net debt.
The company’s total income for the July–September 2023 quarter stood at Rs25.8bn ($310m), a 53.7% increase from the same period the previous year.
Shell Energy has already entered a 15-year offtake agreement for the full capacity of the battery storage.
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India derives most of its electricity from thermal power. Within thermal sources, India is majorly dependent on coal-based plants for power generation. The government has no immediate plans to phase-out coal power plants as coal is one of the cheapest sources of power generation in the country. The country also imports significant amounts of coal from Indonesia, Australia, and South Africa where the carbon quantity of coal is high. Coal is expected to remain the most dominant source of power generation in India until 2035.
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