16 May 2025
ReNew
Anantapur, Andhra Pradesh,
May 16, 2025: ReNew Energy Global Plc (“ReNew”), a
leading decarbonisation solutions company, announced that it will invest ~INR 22,000 crore (US ~$2.5 billion) to set up one of India’s
largest hybrid renewable energy projects
in Andhra Pradesh’s Anantapur district. With a generation capacity of around 2.8 GW, including 1.8 GWp solar and 1 GW
wind, and a battery energy storage system (BESS) of 2 GWh, this will be one of
the largest RE complexes at a single location in India.
Hon’ble Minister
for Information Technology, Electronics & Communications, Real Time
Governance and Human Resources Development in the Govt of Andhra Pradesh, Shri
Nara Lokesh, laid the foundation stone for the project in the presence of
Sumant Sinha, Founder, Chairman, and CEO, ReNew. In the project’s first phase, ReNew will set up 587 MWp solar and 250 MW wind energy capacity,
along with a 415 MWh BESS, for which PPAs have already been signed.
The rest of the capacity will be developed in subsequent phases.
With a large BESS
to be installed, the project will be able to supply power for up to 4 peak
hours every day (non-RE generating hours), which will help the off-takers with
peak demand management and enable renewable energy to be more firm and
dispatchable. Aligned with the Make in India mission, the project will be made
up of 100% Made-in-India solar panels supplied from ReNew’s solar manufacturing
units in Jaipur, Rajasthan, and Dholera, Gujarat. Additionally, it will use
state-of-the-art solar tracking systems to maximise the generation, and waterless robotic cleaning for solar panels
that will enable
considerable savings of water.
Commenting on the development, the Hon’ble
Minister said, “This project is directly
aligned with Andhra Pradesh’s Integrated Clean
Energy Policy and contributes to India’s 500 GW non-fossil fuel goal by 2030. This 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.”
Sumant Sinha, Founder,
Chairman, and CEO, ReNew, shared his views and said, “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 Hon'ble
Prime Minister's commitment of achieving the target
of 500 GW non-fossil fuel electricity generation capacity by the year 2030.”
ReNew has a portfolio
of 717 MW of operational wind capacity and 60 MW of solar capacity spread over 10 sites in Andhra Pradesh. The company is
dedicated to promoting clean energy-led growth in the state, and with this project, it will generate ~1,500 direct and indirect jobs as it
works in tandem with the government towards the state’s target of generating
78.5 GW of solar, 35 GW of wind power capacity, and 25 GWh of battery energy
storage.
ReNew is a leading decarbonisation solutions company listed on
Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy portfolio of ~17.4 GWs on a
gross basis as of February 14, 2025, is one of the largest globally. In
addition to being a major independent power producer in India, it provides
end-to-end solutions in a just and inclusive
manner in the areas of clean energy,
value-added energy offerings
through digitalisation, storage,
and carbon markets that increasingly are integral to addressing climate
change. For more information, visit www.renew.com and follow us on LinkedIn,
Facebook, X, and Instagram.
Press Enquiries
ReNew | pr@renew.com
Investor Enquiries
ReNew | Anunay Shahi,
Nitin Vaid | ir@renew.com
