Ayana Renewable Power Private Limited has obtained a contract to supply 300 MW of round-the-clock (RTC) renewable energy to Railway Energy Management Company Limited (REMCL), a joint venture business of the Ministry of Railways and RITES Limited. Ayana acquired the capacity in a reverse bid auction for a total of 900 MW tendered by REMCL at a levelised pricing of Rs 4.1 per kWh through its subsidiary ‘Project Nine Renewable Energy’.
According to the notification, Ayana will install around 1 GW of solar and wind energy generation capacity. This will be complemented by a storage solution, to offer 300 MW of continuous power. The project will be developed on a build-own-operate basis.
In June 2022, Ayana announced its plans to expand Karnataka’s clean energy capacity. With an investment of approximately Rs 120 billion, the company has signed an expression of interest with the Government of Karnataka to develop wind and solar power projects with a total capacity of 2 GW in Karnataka. This increase in capacity will deliver renewable energy to approximately 2 million households. Ayana currently has a 340 MWAC operational portfolio in the state.