Hinduja to Triple Green Power, Spend Up to Rs 332 Billion

01 Sep 2025 CW Team

According to Amit Saharia, Group President – Strategy, the group’s renewable arm, Hinduja Renewables, operates over 40 plants across India in states such as Tamil Nadu, Maharashtra, Rajasthan, Gujarat, Uttarakhand, and Karnataka. The firm holds long-term power purchase agreements with central agencies like SECI and NTPC, providing stable revenues and fast receivables with a 15-day collection period.

The group has built in-house engineering, procurement, construction, and O&M capabilities to optimise performance and asset quality. By 2030, it plans for 70–75 per cent of its capacity to be utility-based, 15–20 per cent to be commercial and industrial (C&I), and about 10 per cent to be pumped storage. This mix is aimed at mitigating risks across segments while enhancing competitiveness in complex tenders.

Saharia emphasised a disciplined investment approach, with each project required to meet internal ROI thresholds and supported by robust risk controls. A significant portion of new capacity will come from hybrid models such as solar-wind-storage combinations, with over 75 per cent of future capacity expected in firm and dispatchable renewable energy (FDRE) and round-the-clock (RTC) formats.

Battery energy storage systems (BESS) and pumped hydro storage will play vital roles, with viability boosted by falling battery costs and government funding of up to 40 per cent through viability gap funding. Hinduja Renewables is preparing to bid for BESS-backed tenders and is in talks with state governments for pumped hydro storage projects.

The group is also leveraging synergies with its automotive arms—Ashok Leyland and Switch Mobility—to align its energy and mobility ambitions. Hinduja Renewables will supply green power, while Ashok Leyland and Switch will produce e-vehicles, OHM Global Mobility will offer mobility services, and Gulf Oil will support EV charging infrastructure.

The Hinduja Group is set to make a substantial investment of between Rs 249 billion and Rs 332 billion (approximately $3–4 billion) to expand its renewable energy portfolio from the current 3 GW to over 10 GW by 2030. This major move positions energy as a strategic focus alongside the group’s established sectors—automotive, financial services, and digital.According to Amit Saharia, Group President – Strategy, the group’s renewable arm, Hinduja Renewables, operates over 40 plants across India in states such as Tamil Nadu, Maharashtra, Rajasthan, Gujarat, Uttarakhand, and Karnataka. The firm holds long-term power purchase agreements with central agencies like SECI and NTPC, providing stable revenues and fast receivables with a 15-day collection period.The group has built in-house engineering, procurement, construction, and O&M capabilities to optimise performance and asset quality. By 2030, it plans for 70–75 per cent of its capacity to be utility-based, 15–20 per cent to be commercial and industrial (C&I), and about 10 per cent to be pumped storage. This mix is aimed at mitigating risks across segments while enhancing competitiveness in complex tenders.Saharia emphasised a disciplined investment approach, with each project required to meet internal ROI thresholds and supported by robust risk controls. A significant portion of new capacity will come from hybrid models such as solar-wind-storage combinations, with over 75 per cent of future capacity expected in firm and dispatchable renewable energy (FDRE) and round-the-clock (RTC) formats.Battery energy storage systems (BESS) and pumped hydro storage will play vital roles, with viability boosted by falling battery costs and government funding of up to 40 per cent through viability gap funding. Hinduja Renewables is preparing to bid for BESS-backed tenders and is in talks with state governments for pumped hydro storage projects.The group is also leveraging synergies with its automotive arms—Ashok Leyland and Switch Mobility—to align its energy and mobility ambitions. Hinduja Renewables will supply green power, while Ashok Leyland and Switch will produce e-vehicles, OHM Global Mobility will offer mobility services, and Gulf Oil will support EV charging infrastructure.

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