Ayana Renewable Power on Monday said it has signed a Power Purchase Agreement with Hindalco Industries, the metals flagship company of the Aditya Birla Group.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Under the agreement, Ayana Renewable Power will be supplying 100 MW of Round-the-Clock (RTC) renewable energy to Hindalco Industries' smelter plants in Odisha.

"We are resolutely committed to steering India's energy transition journey. Our latest project marks a pivotal milestone as we deliver 100 MW of uninterrupted, carbon-free power round-the-clock - a pioneering feat in the industrial segment," Ayana Renewable Power managing director and CEO Shivanand Nimbargi said in a statement.

Ayana Renewable Power is backed by the National Investment and Infrastructure Fund (NIIF), British International Investment (BII) and Green Growth Equity Fund.

This project marks a significant milestone in the aluminium industry, which requires reliable and continuous power, it is one of the first in the sector globally to deliver round-the-clock renewable energy from solar and wind, the Bengaluru-headquartered company said.

Ayana has been championing the RTC solutions in India and has also recently won the REMCL tender to supply 300 MW of RTC power to a Joint Venture company of the Ministry of Railways and RITES.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.