10 April 2024 – ReNew, a leading green energy firm headquartered in Gurugram, announced a significant achievement on April 10, as its cumulative renewable energy assets in India crossed the 10 gigawatt (GW) mark. This milestone underscores the company’s commitment to sustainable energy solutions and its substantial contributions to India’s renewable energy landscape.
In a statement released by ReNew, it was revealed that the company completed the construction of 1.94 GW of renewable energy assets in the fiscal year 2024 (FY24), bringing its total installed capacity to over 10 GW. As of March 31, 2024, the revenue-generating capacity stood at 9.52 GW, indicating the company’s strong operational presence in the renewable energy sector.
During FY24, ReNew achieved remarkable capacity additions, with 1,174 MW of solar and 768 MW of wind energy projects being added to its portfolio, representing one of the highest annual wind energy capacity additions by any company in India. Sumant Sinha, the founder, chairperson, and CEO of ReNew, highlighted the company’s significant contribution to India’s renewable energy generation, accounting for approximately 10% of the nation’s total solar and wind energy output in FY24.
Looking ahead, Sinha outlined ReNew’s ambitious plans to double its renewable energy asset portfolio to 20 GW by 2027-28. The company aims to leverage its position as the largest wind portfolio holder in India, with 4.7 GW of installed capacity, and its success in securing renewable energy auctions to drive future growth.
With a balance sheet size of around Rs 88,600 crore ($10.6 billion) as of December 31, 2023, ReNew operates across 10 Indian states and employs over 4,000 people. In addition to its core operations, the company has embarked on backward integration initiatives, including the manufacturing of solar modules and cells, to enhance its strategic positioning in the renewable energy value chain.
