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Sinha said the Union Budget for FY26 aims to achieve high-impact growth while keeping the fiscal deficit within the 4.4 percent target, ensuring macroeconomic stability
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To meet India’s ambitious target of 50 percent of electric power capacity from renewable energy sources, state governments on September 16 submitted Shapat Patras or pledges to the Union government for achieving respective renewable energy capacity additions.
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The funds will be used to expand BluSmart's operations and build real EV charging infrastructure and assets in India's megacities, the EV ride-hailing firm has said
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The company's CEO says that this means plans for an $8-bn, 22,000-tonne green hydrogen plant in Egypt's Suez Canal Economic Zone will be put on the back burner.
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Sumant Sinha, founder, chairperson and CEO of ReNew, said the company will double its renewable energy asset portfolio to 20 GW by 2027-28
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The announcement regarding offshore wind projects has to translate into a specific plan and then Ministry of New and Renewable Energy (MNRE) will have to call for bids. Besides, even though there was no mention of green hydrogen in the budget, a lot of things are actually happening outside of the budget.
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The money will be used to finance decarbonisation-related projects between 2023 and 2028.
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ReNew's CFO Kailash Vaswani also said the company consummated transactions worth Rs 772 crore ($93 million) so far in FY24.
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The company, which has an installed capacity of 9.5 GW, is looking to invest both in wind and solar projects going forward that will require investments at the rate of about Rs 5.5 crore per MW, he said.
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The India opportunity is so attractive right now, and the next 25 years are truly going to be India's years, says Sumant Sinha, founder, chairperson and CEO of ReNew. We'll need almost $500 billion just for the electricity sector over the next 7-8 years, he says.
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Speaking at a session on 'Different roads to energy transition', he also said the energy transition began quite early in India and the process has got a huge leg up now.
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When asked whether the incentives worth Rs 17,490 crore planned under the Green Hydrogen Mission in India will be enough to spur investments, Sinha said it might “not necessarily” do so.
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Founded by Sumant Sinha in 201, ReNew Power is the Indian arm of Nasdaq-listed ReNew Energy Global Plc
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India is doing a lot for clean energy but needs to turbocharge the sector, says Sumant Sinha
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Sinha, who served as the chief operating officer of Suzlon Energy in 2008-2010, says Tanti was very supportive when he started his own company. A lot of renewable energy industry veterans have cut their teeth at Suzlon
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At a time when the world faces twin challenges of energy inflation and energy transition, Indian businesses, too, are looking to make a switch to greener and cleaner fuels
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The company says the sale of business is a part of its increased focus on projects with higher-return and large-scale opportunities.
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The investment gives the Japanese company a 10 percent stake in the firm, giving ReNew an equity valuation of USD 2 billon.
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Speaking to CNBC-TV18, Ramesh said that a few top companies from the renewables space are likely to get listed and will receive a good response from the market.
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Since Government‘s emphasis on defence preparedness has been the Central theme, we would have been happy if some incentives by way of tax exemption or deferment on loan payments would have been announced for domestic industry.
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The proceeds from this ADB investment will be utilized by the company to develop and expand capacities in Andhra Pradesh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh and Telangana.
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Speaking to Moneycontrol, Sumant Sinha, CEO of ReNew Power Ventures, one of India‘s largest clean energy company outlined his views on what the new tax regime has in store for the industry.
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The tender is targeted towards institutional (schools, colleges, universities etc.) and residential sectors, aiming to promote rooftop solar setups in these sectors. Around 130 bidders participated in the bid out of which ReNew Power was allocated at a tenth of the entire bid capacity at approximately 49 MW.
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Under the MOU, ReNew Power and IITD will establish a Chair in the area of Renewable Energy and Storage with representatives from both the entities. The collaboration will jointly propose research and training programmes for representatives of both ReNew and IIT Delhi to lead or participate in.
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Wind turbine manufacturer Gamesa India has bagged a contract from ReNew Power for supply of 20 custom-made G97 turbines of 2 MW each for a project in Karnataka.
