ReNew Energy Global has announced a major investment of ₹220 billion (US$2.57 billion) to develop a large-scale hybrid renewable energy project in Andhra Pradesh. The project is expected to support India’s growing demand for clean energy.
The new facility will generate a combined total of 2.8 gigawatts (GW) of electricity. This includes 1.8 GW of solar power and 1 GW of wind energy. It will also be equipped with the capacity to store and supply electricity for up to four hours during periods of high demand.
The project was officially launched by government and company officials. It will be developed in phases. The first phase includes 587 megawatt-peak (MWp) of solar power, 250 MW of wind power, and a 415 megawatt-hour (MWh) energy storage system. Power purchase agreements (PPAs) for this initial phase have already been signed.
As of February 14, 2025, ReNew Energy’s total clean energy portfolio reached 17.4 GW on a gross basis. In Andhra Pradesh alone, the company already operates 717 MW of wind capacity and 60 MW of solar capacity across 10 locations.
Sumant Sinha, the Founder, Chairman, and CEO of ReNew, highlighted the advantages of investing in Andhra Pradesh. “The state offers investor-friendly policies, strong transmission infrastructure, and abundant solar and wind resources. We see great potential to expand renewable energy here and to support the Prime Minister’s goal of achieving 500 GW of non-fossil fuel electricity capacity by 2030,” he said.
ReNew is India’s second-largest renewable energy company after Adani Green. It operates projects across 10 Indian states and holds a total portfolio of 17.4 GW worldwide, as of mid-February 2024. The company’s announcement comes as India accelerates its push to meet clean energy targets after missing its earlier 2022 milestones.
A recent report by Global Energy Monitor warned that India must significantly increase its renewable energy capacity over the next five years to reach its 2030 goal of 500 GW of non-fossil fuel power.
ReNew is listed on the Nasdaq stock exchange under the tickers RNW and RNWWW. As of January 8, 2025, the company manages one of the world’s largest clean energy portfolios, with 17.4 GW of capacity. Beyond its role as a leading independent power producer in India, ReNew offers a range of services in clean energy, digital infrastructure, energy storage, and carbon markets. The company also emphasizes equity and inclusion in its operations.
