ReNew Energy Global announced on Friday that it will invest Rs 220 billion (approximately $2.57 billion) to establish a large-scale hybrid renewable energy project in Andhra Pradesh, as it seeks to capitalise on India’s surging clean energy demand.

The project will contribute a total capacity of 2.8 gigawatts (GW), comprising 1.8 GW of solar and 1 GW of wind, and is expected to supply power during peak hours for up to four hours a day.

ReNew, India’s second-largest renewable energy company after Adani Green, has operations across ten Indian states and a global portfolio totalling 17.4 GW as of February 2025.

India, having missed its 2022 clean energy goals, is pushing to scale up renewable capacity to meet its 2030 target of 500 GW of non-fossil energy. A Global Energy Monitor report states that India must double its current capacity additions over the next five years to stay on track.