Renew Power’s Chairman and CEO, Sumant Sinha announced on Monday that the company intends to invest approximately Rs 44,000 crore by the end of fiscal year 2025-26, with the goal of adding up to 9 gigawatts (GW) of additional capacity.
The investment will be directed towards both wind and solar projects, each requiring an estimated Rs 5.5 crore per megawatt (MW) of capacity. Sinha further disclosed that Renew Power has already secured power purchase agreements (PPAs) for 5.5 GW of projects, slated for commissioning by the end of fiscal year 2024-25. Additionally, the company has won bids for an additional 3.5 GW of capacity, although the PPAs for these projects are yet to be finalized.
Sinha highlighted the cost breakdown for solar and wind installations, noting that it takes approximately Rs 4 crore per MW for solar capacity and over Rs 7 crore per MW for wind projects. Assuming a 40:60 mix between the two technologies, the average cost per MW for Renew Power’s new capacity expansion is expected to exceed Rs 5 crore per MW. This strategic investment aims to further solidify Renew Power’s position as a major player in India’s renewable energy sector.
