ReNew announced this week that it completed construction of 1.94 GW of renewable energy assets (1,174 MW of solar and 768 MW of wind energy) in FY 2023-24, taking the cumulative capacity set up by the company to over 10 GW. Accounting for assets sold, the company’s revenue generating capacity stands at 9.52 GW as on March 31, 2024.
In FY 2023-24, ReNew contributed about 10% of India’s total solar and wind energy generation. The company has a wind portfolio of 4.7 GW, representing 10.5% of India’s total wind energy capacity.
In 2023-24, ReNew won auctions to supply 4.8 GW of RE power (PPA capacity), accounting for 10.1% of the total capacity for which tenders were concluded during the year. Looking ahead, this would enable the company to double its RE asset portfolio to 20 GW by 2027-28.
ReNew has a deep presence across the country with over 150 renewable energy sites across 10 Indian states and employs more than 4,000 people. The company is among the top ten renewable energy companies globally (outside China), owing to its balanced portfolio of solar and wind energy. It has also achieved backward integration through the manufacturing of solar modules and cells.
As on Dec. 31, 2023, the company had a balance sheet size of around $10.6 billion (INR 88,600 crore), with strong visibility of funding for current and future projects.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.