NEW DELHI (Reuters) -India’s ReNew Energy Global Plc said on Thursday it will invest about 820 billion rupees ($9.33 billion) in the southern state of Andhra Pradesh to expand its clean energy portfolio.
The company is signing agreements with the state government for projects spanning solar manufacturing, pumped hydro, battery storage and green ammonia.
ReNew will set up a 6 gigawatt (GW) photovoltaic ingot-wafer plant, a 2 GW pumped hydro project, a 300,000 tonnes-per-annum green ammonia facility and 5 GW of hybrid renewable projects in the state, including wind-solar and solar-plus-storage.
The investment comes as India pushes to double its non-fossil fuel power generation capacity to 500 GW.
The latest investment commitment includes 600 billion rupees in new investments and adds to the 220 billion rupees pledged in May for a hybrid renewable energy project, ReNew said in a statement.
ReNew did not say how it will fund these projects.
The company, which already operates 717 megawatts of wind and 60 MW of solar capacity in Andhra Pradesh, said the expansion would create more than 10,000 jobs.
Andhra Pradesh aims to develop 78.5 GW of solar, 35 GW of wind and 25 gigawatt-hours of battery storage capacity in the state.
ReNew has a clean energy portfolio of about 18.5 GW and is among India’s largest independent power producers.
($1 = 87.8950 Indian rupees)
(Reporting by Sethuraman NR; Editing by Eileen Soreng)
