ReNew Energy Global Invests Rs22,000 Crore in Andhra Pradesh Hybrid Renewable Project

Strategic Insights -

Indian renewable energy producer ReNew Energy Global is investing Rs22,000 crore ($2.57bn) in a 2.8 GW hybrid renewable energy project in Andhra Pradesh, reaffirming the company's commitment to meeting India's growing energy demands. The project, which will have a combined capacity of 1.8 GW from solar energy and 1 GW from wind power, aims to supply electricity for up to four hours daily during periods of high demand. This strategic investment is crucial for ReNew Energy Global's domestic portfolio, which currently ranks second among renewable energy producers in India, behind Adani Green.

Key Takeaways:

  • ReNew Energy Global is investing Rs22,000 crore ($2.57bn) in a 2.8 GW hybrid renewable energy project in Andhra Pradesh.
  • The project will have a combined capacity of 1.8 GW from solar energy and 1 GW from wind power.
  • The facility will be designed to supply electricity for up to four hours daily during periods of high demand.
  • The project marks a significant step in ReNew Energy Global's growth strategy.
  • The company currently operates in ten Indian states and manages a global portfolio totaling 17.4 GW.
  • ReNew Energy Global currently ranks second among renewable energy producers in India, behind Adani Green.

Statistics:

  • Investment: Rs22,000 crore (approximately $2.57bn)
  • Combined capacity: 2.8 GW
  • Solar energy capacity: 1.8 GW
  • Wind power capacity: 1 GW
  • Global portfolio: 17.4 GW (as of February 14)
  • Number of Indian states: 10

Sources:

  • [1] ReNew Energy Global announcement on the investment in Andhra Pradesh
  • [2] KNN India, "ReNew Energy Global plans Rs 22000 cr investment" (May 17)
  • [3] Global Energy Monitor, "India's Renewable Energy Market" (no date provided)