ReNew Power will invest ₹2000 crore in manufacturing solar cells in India— promises 2,000 direct jobs
- India’s largest
clean energy firm, ReNew Power, is set to manufacture solar cells with an initial capacity of 2000 MW.
- The company will invest about ₹2000 crore to execute the plan and create 2,000 direct jobs in India, according to Suman Sinha, chairman and managing director, ReNew Power.
- Previously, the clean energy firm announced its plan to double its portfolio of running plants and project to 10,000 MW in the next five years.
India’s largest clean energy firm, ReNew Power, is set to manufacture solar cells with an initial capacity of 2000 MW. The company will invest about ₹2000 crore to execute the plan and create 2,000 direct jobs in India, according to Suman Sinha, chairman and managing director, ReNew Power.
View all Offers
View all Offers
- 22% OFF
Sleepwell Starlite Discover 5-inch Firm Double Size Foam Mattress (72*48*4 Inches)₹ 4399₹ 4879Buy On
@home By Nilkamal Matt 1 Seater Recliner with Console (Fabric, Brown, Cocoa)₹ 14499₹ 42900Buy On
- 33% OFF
Duroflex LiveIn - Pressure Relieving, Memory Foam, Roll Pack, 6 Inch Double Size Medium Firm Mattress with Superior Comfort and Anti Microbial Fabric (75 X 48 X 6 Inches)₹ 9059₹ 13499Buy On
- 9% OFF
Spacewood Winner Engineered Wood Study Desk (Walnut finish,Walnut Rigato)₹ 7268₹ 9386Buy On
SleepX Dual Comfort Mattress 6 inch Queen Bed Size, High Density (HD) Foam- Medium Soft & Hard (Orange, 78x60x6)₹ 8159₹ 15346Buy On
As part of our effort to support the @PMOIndia's call for #AatmaNirbharBharat, we're proud to announce an investmen… https://t.co/kERi8OoGpx— Sumant Sinha (@sumant_sinha) 1594885947000
Previously, the clean energy firm announced its plan to double its portfolio of running plants and project to 10,000 MW in the next five years. The company currently has a capacity of 5,600 MW. According to an Economic Times report, the company would invest ₹40,000 crore to ₹50,000 crore to implement the growth plan.
This comes after ReNew Power, earlier in November 2019, said that it aims to achieve “double-digit growth in power transmission.” Moreover, it was also hopeful of grabbing $20 billion in transmission projects this year. Thus, venturing into manufacturing solar cells would leave only the distribution part of the whole energy value chain for the company.
Sinha believes that despite COVId-19, the government has been announcing new bids in the renewable energy sector.
"This year despite the impact of Covid-19, the government has been actively bringing out new bids in the renewable energy space and companies have responded enthusiastically," Renew Power chairman and managing director Sumant Sinha told ET.
Jio Glass – Akash Ambani and Isha Ambani announce Reliance’s latest product which offers holographic video call
Wipro share price 16% increase leads to surge in Infosys share price too
Moderna's COVID-19 vaccine will be in final stages of human trial starting July 27
Popular on BI
- Crypto mining continues to get more difficult despite crackdowns
- PTC India Financial Services slips 18% after three independent directors resign
- Top last day kitchen and home deals on Amazon Great Republic Day sale
- Microsoft Surface Pro 8 2-in-1 laptop to go on sale in India on February 15
- Cardano jumps on the metaverse bandwagon with Pavia — here’s everything you need to know about ADA’s entry into play-to-earn