ReNew to invest $2.5bn in Indian hybrid renewable energy

ReNew Energy Global has unveiled plans to invest Rs220bn ($2.5bn) in one of India's largest hybrid renewable energy projects.

The project will be situated in the Anantapur district in the state of Andhra Pradesh and offer a generation capacity of roughly 2.8GW.

The hybrid initiative will consist of 1.8 gigawatts peak of solar power and 1GW of wind power, complemented by a 2 gigawatt-hour (GWh) battery energy storage system (BESS).

The project is poised to become one of the most extensive renewable energy complexes at a single location in India.

Andhra Pradesh Minister for Information Technology Nara Lokesh laid the foundation stone for the project along with ReNew's founder, chairman and CEO Sumant Sinha.

The initial phase will feature the establishment of 587 megawatts peak (MWp) of solar and 250MW of wind energy capacity, along with a 415 megawatt-hour BESS.

Agreements for power purchases (PPAs) for the first phase have already been finalised, with additional capacity planned for future phases.

The project aims to improve peak demand management through a substantial BESS, providing power for up to four peak hours each day.

In line with the Make in India initiative, the project will employ 100% domestically produced solar panels sourced from ReNew's manufacturing facilities in Jaipur and Dholera.

Solar tracking systems and waterless robotic cleaning for solar panels will be utilised to enhance generation and conserve water resources.

ReNew currently manages a portfolio of 717MW of operational wind capacity and 60MW of solar capacity across ten locations in Andhra Pradesh.

Lokesh stated: “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.”

The new initiative will create 1,500 direct and indirect jobs, aiding the state's ambitious renewable energy objectives.

Sinha stated: “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.”