India’s renewable energy generator ReNew Power [RNW:US] announced the commissioning of a 300-megawatt (MW) solar project with Solar Energy Corporation of India (SECI), as reported by the Economic Times on December 21. The deal is part of ReNew Power’s ambition to attain 8.2 gigawatts (GW) of operational capacity by the end of FY22 and reach 18 GW by FY25, according to chairman and chief executive Sumant Sinha. In FY21, ReNew Power installed 1.5 GW of renewable energy and closed projects with a total capacity of 5.6 GW.
ReNew Power is an Indian independent power producer that designs, constructs, and runs utility-scale wind and solar energy projects, as well as hydro and distributed solar energy projects. Its overall capacity, including commissioned and committed projects, had reached 10.3 GW by November 2021. In addition, the business has formed a partnership with Larsen & Toubro Ltd (L&T) [LT:IN], an Indian infrastructure developer, to develop green hydrogen capacity. ReNew Power’s expansion plan comes as President Modi of India announced India’s 2070 carbon neutrality target at the United Nations COP26 climate summit, with an interim target of installing 500 GW of non-fossil fuel energy in the country by 2030.