“We have 5,000 megawatts (MW) of projects that we are building right now. We have won various auctions… have PPAs (power purchase agreements),” Sinha, who is also the founder and CEO of the company, told PTI.
New Delhi: Green energy companyReNew Powerplans to invest Rs 30,000 crore over the next two years to scale up its solar and wind energy capacities, its ChairmanSumant Sinhasaid.
“We have 5,000 megawatts (MW) of projects that we are building right now. We have won various auctions… have PPAs (power purchase agreements),” Sinha, who is also the founder and CEO of the company, told PTI.
The company plans to spend almost Rs 30,000 crore over the next two years to scale up solar and wind energy capacities, he said.
ReNew Power, a subsidiary ofReNew Energy Global Plc, is one of the largestrenewableenergy independent power producers (IPPs) globally.
The company currently has an aggregate capacity of 13.2 gigawatt (GW), including capacity already won in competitive bids.
Sinha also said his company plans to produce green hydrogen in India.
In his Independence Day speech last year, Prime Minister Narendra Modi had announced the launch of the National Hydrogen Mission with a view to aiding the government in meeting its climate targets and making India a green hydrogen hub.
Union New and Renewable Energy Minister R K Singh had told PTI in September that the mission document is being finalised and is expected to be launched in the next 1-2 months.
Sinha, who is also the president of industry body Assocham, had recently said the government needs to react to the competitive measures various countries are taking to promote green hydrogen manufacturing as India eyes becoming a global hub of new energy.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
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