ReNew Power, one of India’s largest renewable energy developers, recently finalized a landmark investment of $2.5 billion. This funding will be used to develop a new hybrid renewable energy project in Andhra Pradesh. Through installation of approximately 1.8 gigawatts peak of solar and 1 gigawatt of wind electricity, this initiative will leverage. It will be essential to supporting India’s ambitious target of 500 gigawatts of non-fossil fuel energy by 2030.
Once completed, the project will increase ReNew’s current 113MW portfolio by more than a third. Today, this portfolio includes 717 megawatts (MW) of operational wind capacity and 60 MW of solar capacity across ten sites in Andhra Pradesh. Smithsonian Moving Ahead’s new hybrid initiative will feature a 250 kWh battery energy storage system (BESS). It has a very large capacity of 2 gigawatt-hours (GWh). This approach creates strong incentives to improve peak demand management. It increases the project’s financial model by allowing them to provide energy generation for four peak hours a day.
ReNew’s founder, chairman, and CEO, Sumant Sinha, expressed optimism about the project’s potential to foster large-scale renewable energy in the state. He added that Andhra Pradesh’s investor-friendly policies were complemented with the best transmission connectivity. Plus, the state has a wealth of solar and wind resources.
“The state of Andhra Pradesh presents an attractive mix of investor-friendly policies, excellent transmission connectivity and abundant availability of solar and wind resources. We are highly optimistic about developing large-scale renewable energy capacity in the state to contribute to the Honourable Prime Minister’s commitment of achieving the target of 500GW of non-fossil fuel electricity generation capacity by the year 2030.” – Sumant Sinha
In line with Andhra Pradesh’s integrated clean energy policy, ReNew’s project is expected to strengthen the state’s position as a national leader in clean energy initiatives. Further, the project will generate roughly 1,500 direct and indirect jobs, strengthening local workforce development in the region.
To further enhance energy generation efficiency, ReNew plans to implement solar tracking systems and utilize waterless robotic cleaning for solar panels, thus conserving valuable water resources. Whether it’s nuclear, FFC or other innovative technologies, it will be their performance and sustainability in energy production that matters.
Nara Lokesh, a prominent political figure in Andhra Pradesh, praised the initiative, emphasizing its alignment with the state’s clean energy goals. He praised ReNew India for its efforts in establishing a track record and a climate of global investor trust with this large investment.
“This project is directly aligned with Andhra Pradesh’s integrated clean energy policy and contributes to India’s 500GW non-fossil fuel goal by 2030. The project is a testament to Andhra Pradesh’s resurgence as a national leader in clean energy. We are building not just capacity, but also credibility and global investor confidence. I commend ReNew for this project and would look forward to more such investments in the future.” – Nara Lokesh