ReNew Power hits 7.4 GW of operating renewable energy capacity

NASDAQ-listed ReNew Power today announced it has commissioned a 300 MW solar project awarded by the Solar Energy Corporation of India. With this, the developer has reached a total 7.4 GW of operating renewable energy capacity and is on track to hit 8.2 GW by the end of FY2021-22. 

ReNew Power installed a record 1.5 GW of renewable energy projects to date in the current fiscal year (FY2021-22) despite challenges related to Covid-19 and supply chain disruptions. 

The 1.5 GW capacity addition in the current fiscal year comprises more than 1.3 GW of utility-scale solar projects, including 1.2 GW in Rajasthan, 105 MW in Gujarat, and 20 MW in Maharashtra. Wind capacity addition stood at over 150 MW, including 136 MW in Karnataka and 22 MW in Gujarat. 

All these capacity additions in FY2022 are expected to offset over 75,000 million tonnes of carbon dioxide equivalent cumulatively. Around 1.05 GW of this organic capacity addition benefits from a 25-year power purchase agreement with the SECI. 

Speaking about the capacity addition, Chairman and CEO of ReNew, Sumant Sinha, said: “ReNew continues to be at the heart of India’s transformation as a clean energy leader. The major organic addition of 1.5 GW of renewable energy projects this fiscal year and the fact that we have crossed 7 GW of commissioned capacity shows we are well on track to achieve our aspirational goal of 18 GW by FY2025. We will further intensify our efforts to help India achieve its climate goals, including meeting half of its energy needs through renewables, and also develop green hydrogen.”

ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects, hydro projects, and distributed solar energy projects. As of November 30, 2021, the developer had a renewable energy portfolio of approximately 10.3 GW (including commissioned and committed projects) across India.