Business
ReNew reaches 7.4 GW of operating renewable energy capacity in surge of on-ground additions
- ReNew installs approximately 1.5 GW of renewable energy capacity in FY22 to date, the most on record in India in a year - Capacity addition expected to help
About this update from Renew Energy Global Plc
[{"type":"text","content":"- ReNew installs approximately 1.5 GW of renewable energy capacity in FY22 to date, the most on record in India in a year\n - Capacity addition expected to help avoid over 75,000 mn TCo2e of carbon emissions cumulatively\n\n\n\n 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. \nDriving 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.\nThe 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. \nAll 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. \nSpeaking 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.\"\n\"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.\nReNew recently announced a partnership with L&T for developing green hydrogen capacity.\nThe company's expansion of its operational capability comes ...