Phoenix Mills Limited awards ReNew Power for 5MW solar power plants
The Phoenix Mills Limited (PML), a retail-led mixed-use developer, has awarded a contract to ReNew Power for the installation of nearly 5MW of solar power capacity to power its Phoenix Marketcity Pune and Phoenix Marketcity Mumbai shopping malls.
The contract with the renewable energy developer will be for a period of 25 years and is likely to commence from March 2022. It has been awarded through Phoenix Mills Limited’s subsidiaries Vamona Developers Pvt. Ltd. and Offbeat Developers Pvt. Ltd.
Prabhat Mishra — ReNew Power Head and Senior Vice President of B2B Business said: “As one of the leading renewable energy companies globally, we feel, it’s our prime duty to continuously support and encourage corporates adopt green energy solutions. We are very happy to partner with and congratulate PML as they have paved ways for other such responsible corporates to also embark on their journey of clean and green world.”
According to Phoenix Mills Limited, the installation will result in a yearly generation of 11 million units of electricity across the two shopping malls and will help in offsetting 7,800 MT of Co2.
For Phoenix Marketcity Mumbai, the solar plant installation will produce 1.8MW or nearly four million units per year and will help meet nearly a quarter of the energy requirements for providing common area services and air conditioning.
At the Phoenix Marketcity Pune shopping mall, the solar plant installation will have a capacity of 3.2MW or around seven million units per year and help meet nearly 50-55% of energy requirements for providing common area services and air conditioning.
Shishir Shrivastava — The Phoenix Mills Limited Managing Director said: “We are proud to expand on our association with ReNew Power, who have an established history and vast experience in the establishment of solar power projects. At PML, sustainability has always been at the forefront of how we operate.
“The new solar power initiative is another step in our efforts to drive efficient use of energy across both malls. We take pride in doing our part for the environment and continue to look for eco-friendly building practices.”