ReNew Power to invest Rs. 13,000 crore in State

ReNew Power, one among leading clean energy companies in India on Sunday signed MoU at the CII Partnership Summit to invest Rs. 13,000 crore in renewable energy projects.

The MoU envisages the development of 1000 MW of installed capacity for solar power and another 1,000 MW of wind over the next five years. The projects, put together, have the potential to create direct employment for 4,000 people and indirect employment for 6,000 while providing access to clean energy.

Company’s CEO Sumant Sinha said that Andhra Pradesh has proven time and again that it is one of the most desirable destinations for investment in renewable energy. We already have more than 300 MW of installed green energy capacity in AP, he said.

Mr. Sinha said with the proposed investment would further enhance their support to the State in meeting the energy requirement in a more sustainable way and create thousands of jobs.

The investment also reinforces ReNew Power’s commitment towards supporting India’s national aim of achieving 175 GW of renewable capacity by 2022, he stated.