India’s clean energy aims have received a further boost thanks to ReNew Energy Global investing ₹22,000 crore (around $2.57 billion) in a hybrid solar and wind power renewable project in Andhra Pradesh. Such an agreement appreciably promotes India’s progress toward using clean power, which is a key goal in the country’s aim to produce 500 GW of non-fossil energy by the end of 2030.
The project is set to produce 2.8 GW, including 1.8 GW of solar power and 1 GW of wind power, aiming to give electricity for up to four hours during the day’s peak. The combination of both energy sources tries to stabilize the grid and improve the amount of available power.
Key highlights:
“ReNew Energy Global said on Friday it will invest 220 billion rupees ($2.57 billion) to set up a hybrid renewable energy project in the eastern Indian state of Andhra Pradesh, as it looks to cash in on the country's booming clean energy needs.”
Read more: Vikram Solar Secures 326 MW Order for Gujarat’s Khavda Renewable Energy Park
Being the second-largest renewable company in India following Adani Green, ReNew Energy expands with its 17.4 GW global portfolio and several projects in ten parts of India. It comes at an important moment, because according to a recent report by Global Energy Monitor, India needs to double its expansion of renewables in the next five years to keep up with its targets.
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