GURUGRAM, India, Dec. 21, 2021 /PRNewswire/ -- ReNew Power
("ReNew" or "the Company") (NASDAQ: RNW) (NASDAQ: RNWWW),
India's leading renewable energy
company, today announced it has commissioned the 300 MW SECI-6
solar project, pushing the company's total operating capacity to
its highest level ever of 7.4 GW.
Driving this growth is a record installation of 1.5 GW of
renewable energy projects this fiscal year (FY22 YTD), despite
challenges related to COVID-19 and supply chain disruptions.
ReNew is on track to meet its goal of 8.2 GW of operating
capacity by the end of FY22. In FY21, ReNew finished the year with
an operating capacity of 5.6 GW.
The bulk of ReNew's organic capacity addition that led it to
surge past the 7 GW landmark is located in the states of Rajasthan
and Gujarat. The 1.5 GW capacity addition in the current fiscal
year comprises more than 1.3 GW of utility scale solar projects.
These include 1.2 GW in Rajasthan, 105 MW in Gujarat, and 20 MW in
Maharashtra. In wind projects, over 150 MW has been installed,
including 136 MW in Karnataka and 22 MW in Gujarat.
All these capacity additions in FY22 are expected to offset over
75,000 mn tCo2e of carbon emissions cumulatively. Around
1.05 GW of this organic capacity addition has a PPA with the Solar
Energy Corporation of India
("SECI"), an entity owned by the Government of India, for 25 years.
Speaking about the capacity addition, Chairman and CEO of
ReNew, Mr. Sumant Sinha, said:
"ReNew continues to be at the heart of India's transformation as a clean energy
leader. The major organic addition of 1.5 GW of renewable energy
projects this fiscal year and the fact that we have crossed 7 GW of
commissioned capacity shows we are well on track to achieve our
aspirational goal of 18 GW by FY25."
"We will further intensify our efforts to help India achieve its climate goals, including
meeting half of its energy needs through renewables, and also
develop green hydrogen," Mr. Sinha added.
ReNew recently announced a partnership with L&T for
developing green hydrogen capacity.
The company's expansion of its operational capability comes as
India looks at 500 GW of
non-fossil fuel energy capacity by 2030 and by the same year,
reducing total projected carbon emissions by one billion tonnes, as
announced by Prime Minister Narendra
Modi at the COP26 Glasgow summit.
About ReNew: ReNew is one of the largest renewable energy
Independent Power Producers (IPPs) in India and globally. ReNew develops, builds,
owns, and operates utility-scale wind and solar energy projects,
hydro projects and distributed solar energy projects. As of
November 30, 2021, ReNew had a total
capacity of approximately 10.3 GW of renewable energy projects
across India including
commissioned and committed projects. For more information, please
visit: www.renewpower.in; Follow ReNew Power on Twitter
@ReNew_Power.
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SOURCE ReNew Energy Global PLC