Business India ×
 Climate Change

Investment
Published on: Jan. 17, 2023, 9:32 p.m.
ReNew Power invests Rs2,000 crore
  • Sinha: the country is moving towards becoming Atmanirbhar in solar cell and modules

By Business India Editorial

ReNew Power is investing Rs2,000 crore to set up solar cell and module manufacturing units in Gujarat and Rajasthan, its Chairman Sumant Sinha said. 

The company is also exploring investment opportunities in Uttar Pradesh to expand presence in the country, Sinha, who is also the founder and CEO of ReNew said.

The country is moving towards becoming Atmanirbhar in solar cell and modules, he said.

“Rs2,000 crore is already being spent by ReNew,” the chairman said in reply to a question if his company is exploring investment opportunities in the space of solar cell and module manufacturing.

A solar cell and module manufacturing unit with an annual capacity of 2 gigawatt (GW) is being set up in Gujarat, he said. Another unit for manufacturing of only solar modules is being set up in Rajasthan with a 4 GW annual capacity, Sinha said. 

The company aims to make the Gujarat unit operational by December quarter next fiscal year, and the unit in Rajasthan is planned to start in the first quarter of 2023-24. 

“We are exploring the areas (investment opportunities) in UP,” Sinha said. 

ReNew Power, a subsidiary of ReNew Energy Global Plc, is one of the largest renewable energy independent power producers (IPPs) globally. 

Ministers and officials from UP had converged for a roadshow in Delhi on Friday in the run-up to the Global Investors Summit in Lucknow next month.

Cell and modules are the key components for manufacturing of solar panels which are further used in setting up of solar projects. With an aim to promote domestic manufacturing, the government in 2021 imposed 40 per cent basic customs duty (BCD) on solar modules and 25 per cent on solar cells effective April 1, 2022.


Mobility

As companies line up new products, competition hots up

New EVs in the fray

Published on Jan. 25, 2023, 8:20 p.m.

As companies line up new products, competition hots up

Shipping

Embracing the wind to reduce emissions is a growing trend in the shipping industry

Ships get ‘greener’

Published on Jan. 25, 2023, 7:58 p.m.

Embracing the wind to reduce emissions is a growing trend in the shipping industry

Renewable Energy

BPCL signs MoU with Rajasthan to set up a 1 GW RE plant

BPCL to set up 1GW RE plant

Published on Jan. 25, 2023, 7:40 p.m.

BPCL signs MoU with Rajasthan to set up a 1 GW RE plant

Investment

The government mulls to issue its first green bonds at a 'greenium’

Green bonds on cards

Published on Jan. 25, 2023, 7:10 p.m.

The government mulls to issue its first green bonds at a 'greenium’

E-MAGAZINE

Company Feature

Classrooms go live, thanks to Airtel

Published on April 5, 2022, 11:25 a.m.

Despite the pandemic, Bharti Foundation has ensured that children are not deprived of learning opportunities

Column

Collaborative excellence

Published on April 4, 2022, 8:53 p.m.

A policy perspective for meeting SDG-9 in low resource setting of developing economies

Column

Innovation and infrastructure

Published on April 4, 2022, 8:10 p.m.

India is well-positioned to become a model of corporate sustainability

Column

‘More for less’

Published on April 1, 2022, 10:12 p.m.

The merger of technology and SDGs – A game-changing win of the era