Renew & SMIORE collaborates on renewable energy project in Karnataka
POWER & RENEWABLE ENERGY

Renew & SMIORE collaborates on renewable energy project in Karnataka

Renew Energy Global Plc (ReNew), a renowned player in the renewable energy sector, has recently announced its investment in a renewable energy project located in Kudligi, Vijayanagara district of Karnataka. This endeavour is being undertaken by ReNew's subsidiary, Renew Green Energy Solutions, in collaboration with Sandur Manganese and Iron Ores (SMIORE), a prominent industrial conglomerate.

The partners have entered into an equity-based agreement to establish a power plant that harnesses both wind and solar energy, generating sustainable electricity. The project, developed by Renew Sandur Green Energy, comprises a 33 MW solar power plant and a 9.9 MW wind power plant. This initiative is expected to make a substantial contribution to the region's renewable energy landscape. By capitalising on the power of sunlight and wind, the project aims to reduce carbon emissions and promote a greener future. The company emphasises the utilisation of advanced technologies and efficient infrastructure to maximise energy production while minimising the environmental impact.

Bahirji A Ghorpade, Managing Director of SMIORE, expressed his satisfaction, stating, "The capital raised through a right Issue has been instrumental in completing this project. SMIORE will be able to utilise renewable energy to power our metallurgical plants for many years to come. This achievement marks a significant milestone towards a sustainable future as our reliance on fossil fuels diminishes, contributing to a greener environment.

Rahula Kashyapa, Vice-President of Business Development - B2B Business at ReNew, highlighted the project's significance, stating, "This initiative will substantially enhance the region's renewable energy capacity, reduce dependence on fossil fuels, and combat climate change. ReNew and SMIORE are proud to be at the forefront of the renewable energy revolution, and this joint investment signifies a crucial milestone in their shared commitment to a sustainable future. We anticipate the positive impact it will have on the environment and the local community.

Renew Energy Global Plc (ReNew), a renowned player in the renewable energy sector, has recently announced its investment in a renewable energy project located in Kudligi, Vijayanagara district of Karnataka. This endeavour is being undertaken by ReNew's subsidiary, Renew Green Energy Solutions, in collaboration with Sandur Manganese and Iron Ores (SMIORE), a prominent industrial conglomerate. The partners have entered into an equity-based agreement to establish a power plant that harnesses both wind and solar energy, generating sustainable electricity. The project, developed by Renew Sandur Green Energy, comprises a 33 MW solar power plant and a 9.9 MW wind power plant. This initiative is expected to make a substantial contribution to the region's renewable energy landscape. By capitalising on the power of sunlight and wind, the project aims to reduce carbon emissions and promote a greener future. The company emphasises the utilisation of advanced technologies and efficient infrastructure to maximise energy production while minimising the environmental impact. Bahirji A Ghorpade, Managing Director of SMIORE, expressed his satisfaction, stating, The capital raised through a right Issue has been instrumental in completing this project. SMIORE will be able to utilise renewable energy to power our metallurgical plants for many years to come. This achievement marks a significant milestone towards a sustainable future as our reliance on fossil fuels diminishes, contributing to a greener environment. Rahula Kashyapa, Vice-President of Business Development - B2B Business at ReNew, highlighted the project's significance, stating, This initiative will substantially enhance the region's renewable energy capacity, reduce dependence on fossil fuels, and combat climate change. ReNew and SMIORE are proud to be at the forefront of the renewable energy revolution, and this joint investment signifies a crucial milestone in their shared commitment to a sustainable future. We anticipate the positive impact it will have on the environment and the local community.

Next Story
Infrastructure Energy

ReNew Signs $1 Billion Financing Pact with Societe Generale

Leading energy firm ReNew announced on Wednesday that it has entered into an initial agreement with European bank Societe Generale, securing up to USD 1 billion in financing over the next three years. This strategic partnership, formalized through a Memorandum of Understanding (MoU), aims to bolster ReNew?s various energy transition projects in India and internationally.

According to the company's statement, the collaboration will leverage the strengths of both parties to support the development of large-scale energy projects. These include solar and wind energy, complex renewable sol..

Next Story
Infrastructure Energy

MNRE Eases Approval Process for CPSU Solar Parks

In a significant move to streamline the approval process for solar park development, the Ministry of New & Renewable Energy (MNRE) has announced exemptions for central public sector undertakings (CPSUs) and their joint ventures from seeking state government committee approval for infrastructure development and operations & maintenance (O&M) charges.

This decision, communicated through an office memorandum, responds to requests from Solar Power Park Developers (SPPDs) to simplify the approval process. Under the new guidelines, CPSUs and their joint ventures can submit their detailed proj..

Next Story
Infrastructure Energy

Radiance aims to secure $150 million for a 2 GW expansion project

Radiance Renewables is set to enhance its renewable energy portfolio significantly. The company is planning to raise $150 million in funding to support a 2GW expansion of its solar power capacity. This ambitious project aims to bolster Radiance's position in the renewable energy sector and contribute to India's growing demand for sustainable energy solutions.

In addition to the expansion, Radiance is introducing cu..

Next Story
Infrastructure Energy

Adani Energy Acquires Essar's Transmission Assets

Adani Energy has finalised the acquisition of Essar's Mahan and Sipat transmission assets for a sum of Rs 1900 crore. This significant move underscores Adani's strategic expansion within the energy sector and consolidates its position as a key player in India's power transmission domain.

The acquisition of Essar's transmission assets represents a strategic investment for Adani Energy, enabling the company to augment its infrastructure and bolster its transmission network. With the addition of these assets, Adani strengthens its operational footprint, enhancing its capacity to deliver r..

Next Story
Infrastructure Energy

IEX Q4 Net Profit Grows 9.5%

The Indian Energy Exchange (IEX) has reported a significant uptick in its net profit for the fourth quarter, marking a notable growth of 9.5%. This financial performance underscores the resilience and strength of the company's business model in navigating through dynamic market conditions within the energy sector.

The impressive growth in net profit reflects IEX's robust operational performance and effective strategic initiatives aimed at enhancing efficiency and driving sustainable value creation. As a leading power trading platform in India, IEX plays a pivotal role in facilitating t..

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram