DCM Shriram and ReNew Power have signed two Captive Power Agreements (CPAs), as per which ReNew Power will supply 50 MW of Renewable Energy (RE) to the former’s Chlor-Alkali plant in Bharuch, Gujarat.
This RE will be supplied from ReNew Power’s two upcoming hybrid projects in Bhavnagar, Gujarat, which will be set up at a total cost of Rs. 800 crore. DCM Shriram will have an equity partnership of Rs. 63 crore in these projects. These hybrid projects will have a capacity of about 100 MW wind power and solar power, out of which 50 MW will be supplied to DCM Shriram’s Chlor-Alkali plant as per the CPAs. These projects are expected to generate about 250 Million Units of Hybrid Power per annum exclusively for DCM Shriram. Validity of these CPAs is for 25 years.