ReNew power announces massive investment of Rs 80,000 Cr in Global Investors Summit 2023
Sumant Sinha said that this would be ReNew’s largest investment in any State of India
- Andhra Pradesh
NewsTAP Bureau- Updated On:4 March 2023 1:29 PM GMT
VISAKHAPATNAM: Becoming one of the top investors in Andhra Pradesh at the Global Investors Summit 2023, Sumant Sinha, Chairman and Managing Director of ReNew, India’s leading energy transition company, announced a sum of Rs 80,000 crore for setting up green energy and decarbonisation plants.
The investment would be disbursed over a period of the next five to seven years. Sumant Sinha said that this would be ReNew’s largest investment in any State of India.
He said that since Andhra Pradesh received many awards and achieved many breakthroughs in the green energy sector in YS Jaganmohan Reddy’s regime, in the next five years ReNew’s investments would spread across green hydrogen, solar, pump etc.
“Wind and solar resources are available in abundance in the State which is unique, then the government topped in EoDB which is a stellar achievement. As a result, I'm very happy to announce our investment of Rs 80,000 crores in the state, in Green energy and decarbonisation sectors in AP over the next 5-7 years which will eventually end up being our biggest investment in any state of India. The state has signed MOUs for green energy projects worth more than rupees 80,000 thousand crores which will help Andhra Pradesh become even bigger pioneers in the green energy sector."
