Ayana signs PPA with Hindalco to set up 330 MW renewable energy plant

Ayana Renewable Power (Ayana) has announced the signing of power purchase agreement (PPA) with Hindalco Industries Limited to set up 330 MW of solar and wind power capacity for Hindalco’s smelter plants in Odisha. With a combination of solar, wind, and pumped hydro storage technologies, the project will guarantee 100 MW round-the-clock (RTC) of carbon-free energy in collaboration with Greenko Energies. For this project, Ayana has received funding from the British International Investment, the National Investment and Infrastructure Fund, and the Green Growth Equity Fund.

With the completion of this project, Ayana will have over 5 GW of cumulative capacity. Furthermore, the project is one of the first in the sector to provide RTC renewable power that will support aluminum industry which depends on continuous and reliable power.

In May 2023, Ayana obtained a contract to supply 300 MW of RTC renewable energy to Railway Energy Management Company Limited at a levelised pricing of Rs 4.1 per kWh through its subsidiary – Project Nine Renewable Energy.

In June 2022, with an investment of approximately Rs 120 billion, Ayana signed an expression of interest with the Government of Karnataka to develop wind and solar power projects with a total capacity of 2 GW.