ReNew Power to invest Rs 30,000 crore in the next 2 years

17 Oct 2022 , 08:50 AM

According to ReNew Power Chairman Sumant Sinha, the green energy business would invest Rs 30,000 crore over the next two years to increase its solar and wind energy capacity. “We are now working on projects totaling 5,000 megawatts (MW). Various auctions that we have won, PPAs (power purchase agreements), “According to Sinha, the company’s founder and CEO, PTI.

According to him, the corporation intends to invest around Rs 30,000 crore in expanding solar and wind energy facilities over the next two years. One of the biggest renewable energy independent power producers (IPPs) worldwide is ReNew Power, a division of ReNew Energy Global Plc.

With capacity previously acquired by winning competitive bids, the corporation now has a total capacity of 13.2 gigawatts (GW). Additionally, Sinha said that his business intends to manufacture green hydrogen in India.

Last year, Prime Minister Narendra Modi mentioned the National Hydrogen Mission in his Independence Day address. The mission’s goal is to help the government achieve its climate goals and turn India into a centre for green hydrogen.

The mission paper is being finalised and should be released within the next one to two months, according to R K Singh, the Union Minister for New and Renewable Energy, who spoke to PTI in September.

Sinha, who also serves as the head of the business organisation Assocham, recently stated that the government must respond to the aggressive steps other nations are doing to boost the production of green hydrogen as India strives to become a major centre for alternative energy.

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