ReNew, an Indian company, will invest $9.33 Billion in green energy projects across the southern state

ReNew Energy Global Plc, an Indian company, announced on Thursday that it would invest approximately 820 billion rupees (9.33 billion dollars) in Andhra Pradesh's southern state to expand its clean-energy portfolio.

The company has signed agreements with the government of the state for projects that include solar manufacturing, pumped-hydro, battery storage, and green ammonia.

ReNew plans to build a 6 GW photovoltaic ingot/wafer facility, a 2GW pumped-hydro project, 300,000 tonnes of green ammonia per annum, and 5 GW hybrid renewable projects, including solar-plus storage and wind-solar.

India is pushing to double its capacity of non-fossil energy generation to 500 GW.

ReNew announced in a press release that the latest investment commitment included 600 billion rupees of new investments, which added to the 220 million rupees pledged by ReNew in May for an hybrid renewable energy project.

ReNew has not stated how it plans to fund these projects.

The company said that the expansion will create over 10,000 jobs. It already operates 717 MW of wind power and 60 MW solar in Andhra Pradesh.

Andhra Pradesh plans to build 78.5 GW solar, 35 GW wind and 25 gigawatt hours of battery storage in the state.

ReNew is India's leading independent power producer and has a portfolio of clean energy totaling about 18.5 GW.

(source: Reuters)