ReNew inaugurates 400 MW solar project in Rajasthan

● The Company has inaugurated 400 MW solar project in Rajasthan<_o3a_p>● Project is part of a 600 MW PPA with SECI for 25 years<_o3a_p>● The project will result in an annual offset of about 1.4 million tons of CO² equivalent emissions, significantly contributing to environmental sustainability

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July 24^th 2024, Jaipur - ReNew, India's leading renewable energy company (NASDAQ: RNW), on Tuesday inaugurated a 400 MW solar project in Rajasthan, as part of a 600 MW PPA signed with the Solar Energy Corporation of India Limited (SECI) to generate clean energy in Rajasthan for the next 25 years. The project was inaugurated by Rajasthan Chief Minister Shri Bhajan Lal Sharma in the presence of Deputy Chief Minister Diya Kumari, Energy Minister Puspendra Singh Ranawat, SECI Chairman R.P. Gupta, and ReNew's Founder, Chairman and CEO Sumant Sinha, among other dignitaries.<_o3a_p>

The 600 MW solar power plant, spread over 2000 acres of land and across multiple villages in the Pokran and Bhaniyana tehsils of Jaisalmer district, Rajasthan, is expected to generate about 1331 million units of electricity annually. Additionally, the project offers a competitive PPA tariff at Rs. 2.18/kWh.<_o3a_p>

Inaugurating the project, Chief Minister Shri Bhajan Lal Sharma commented, "The production of renewable energy from the 400 MW solar power plant in Jaisalmer today by ReNew is an important step towards making the state self-reliant. Production of the remaining 200 MW will start by October." He further added, "Adding renewable capacity will reduce the cost of power resulting in lower tariffs for consumers and also savings for the government. Through this plant, electricity will be supplied to Rajasthan discom at very cheap rates."<_o3a_p>

ReNew also conducts various water conservation activities in water-stressed districts like Jaisalmer, including de-silting of community lakes and construction of traditional water harvesting structures, providing water to more than 700 underprivileged families. Deputy Chief Minister, Smt. Diya Kumari added, "I thank ReNew for this important milestone. There is a huge opportunity for the renewable sector in Rajasthan. Not much work has been done in the state for the last five years in the area of energy and water security. In line with the Prime Minister's vision of Viksit Bharat, we are targeting to make Rajasthan Viksit."<_o3a_p>

Sumant Sinha, Founder, Chairman & CEO, ReNew, said "I am proud that we were able to complete this project in a record time, enough to power 300,000 households. Presently, 4000 MW of ReNew's gross ~10GW of operational capacity is situated in Rajasthan with investments of over Rs 21,000 crore, including a 4 GW solar module manufacturing facility in Jaipur. We are fully committed to Rajasthan when it comes to expanding our portfolio upwards from 10 GW in the next few years."<_o3a_p>

The project is connected at Jaisalmer-II (Bhensara) of Rajasthan Rajya Vidyut Prasaran Nigam Limited ("RVPNL") and is the largest solar project connected to RVPNL. SECI has also executed a Power Sale Agreement (PSA) with Rajasthan Urja Vikas Nigam Limited (RUVNL)/Rajasthan Discom for the same duration. <_o3a_p>

The project will result in an annual offset of about 1.4 million tons of CO2 equivalent emissions, significantly contributing to environmental sustainability. It has already generated significant employment during construction and will continue to do so in the operational phase, benefiting local communities through long-term land lease agreements. The project will use solar modules made by ReNew, making it the first project of this scale to use solar modules made in Jaipur, aligning with the Govt. of India's Atmanirbhar Bharat Abhiyan.<_o3a_p>

About ReNew

ReNew is a leading decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy contracted portfolio of ~15.6 GW on a gross basis as of May 31, 2024, is one of the largest globally. In addition to being a major independent power producer in India, we provide end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that increasingly are integral to addressing climate change. For more information, visit renew.comand follow us on LinkedIn, Facebook, Twitterand Instagram.

Press Enquiries<_o3a_p>

ReNew | Shilpa Narani | [email protected]<_o3a_p>

Investor Enquiries <_o3a_p>

ReNew | Nathan Judge, Nitin Vaid | [email protected]<_o3a_p>

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