Gurugram-based ReNew Power has become the first renewable energy company in India – and only the 11th outside China – to cross the 5 GW mark for clean energy generation installations.
Announcing the feat soon after commissioning a 250 MW solar power plant in Bikaner, in Rajasthan, chairman and MD Sumant Sinha said the company will add 3 GW of generation capacity in two phases in the next 18 months. Of that figure, around 1.5 GW will be commissioned by the middle of next year.
“We now have 5.2 GW commissioned with a pipeline that takes our total to over 8 GW,” Sinha tweeted. “Special thanks to the most special team in the industry that made this possible in a period of less than eight years.”
The ReNew Power website says Sinha started the business in 2011, with a 25.2 MW wind project in Jasdan, Gujarat, and it is now the country’s largest renewable energy independent power producer. ReNew operates more than 100 utility scale projects across eight states, generating 1% of India’s electricity and helping mitigate 0.5% of India’s carbon emissions, according to the website.
ReNew Power’s first utility scale solar project was developed in Madhya Pradesh in 2013 and the company has 250 distributed solar sites in 76 cities in 17 states.
In September, Princeton University signed a memorandum of understanding with ReNew Power and the IIT-Delhi Center of Excellence to collaborate on renewable energy and a sustainable future. Another agreement was signed offering two students at the Ivy League institution’s Andlinger Center for Energy and Environment the chance to participate in ReNew Power’s Global Green Scholars Program.
The Indian developer is backed by investors including Goldman Sachs, the Abu Dhabi Investment Authority, the Canada Pension Plan Investment Board, the Global Environment Fund and JERA, a joint venture between two of Japan’s largest utilities – Tokyo Electric Power Co Inc and Chubu Electric Power Co.