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Renew Power Plans Rs 44,000 cr Investment for Wind, Solar Projects

Renew Power is targeting to invest around Rs 44,000 crore by the end of FY26 to add up to 9 GW of capacity. The company seeks to utilize this capital in wind and solar projects, which would be at the rate of about Rs 5.5 crore / MW.

 

Of these 9 GW, Renew has signed power purchase agreements (PPAs) for 5.5 GW of projects, which will be commissioned by the end of FY25. For the remaining 3.5 GW, the company has won bids, but PPAs are yet to be signed. Apart from these, Renew is also looking to make inroads into the green hydrogen space for which it has already formed a joint venture (JV) with Indian Oil Corporation (IOCL) and L&T.

 

Further, it takes around Rs 4 crore / MW to install solar capacity and over Rs 7 crore for wind, and assuming a mix of 40:60 between the two, the average cost per MW of new capacity is estimated to cost over Rs 5 crore / MW.

 

Till date, the company has an installed capacity of 9.5 GW.

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