Renew & SMIORE collaborates on renewable energy project in Karnataka

04 Jul 2023 CW Team

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.