+
ReNew Gets Rs 8.7B from BII for Solar Manufacturing
POWER & RENEWABLE ENERGY

ReNew Gets Rs 8.7B from BII for Solar Manufacturing

Gurgaon-based ReNew Energy Global Plc has secured Rs 8.7 billion from British International Investment (BII), marking BII’s first investment in India’s solar manufacturing sector. The funds will support ReNew’s expansion of its solar manufacturing arm, ReNew Photovoltaics Private Limited.

ReNew Photovoltaics currently operates a 6.4 GW solar PV module plant and a 2.5 GW solar cell facility in Jaipur and Dholera, respectively. The fresh investment will be used to construct a new 4 GW TOPCon solar cell facility in Dholera, Gujarat, boosting total capacity to 6.4 GW for both modules and cells.

This expansion will help ReNew meet its internal demand while allowing surplus output to be sold to external buyers. “Our move into manufacturing was strategic to secure the supply chain as India pushes to indigenise its solar ecosystem,” said Sumant Sinha, ReNew’s CEO.

BII’s minority stake in the solar subsidiary underscores its long-term commitment to supporting clean energy development in India. Sally Taylor of the British High Commission called it “a positive step that strengthens the UK-India partnership on renewable energy.”

Gurgaon-based ReNew Energy Global Plc has secured Rs 8.7 billion from British International Investment (BII), marking BII’s first investment in India’s solar manufacturing sector. The funds will support ReNew’s expansion of its solar manufacturing arm, ReNew Photovoltaics Private Limited.ReNew Photovoltaics currently operates a 6.4 GW solar PV module plant and a 2.5 GW solar cell facility in Jaipur and Dholera, respectively. The fresh investment will be used to construct a new 4 GW TOPCon solar cell facility in Dholera, Gujarat, boosting total capacity to 6.4 GW for both modules and cells.This expansion will help ReNew meet its internal demand while allowing surplus output to be sold to external buyers. “Our move into manufacturing was strategic to secure the supply chain as India pushes to indigenise its solar ecosystem,” said Sumant Sinha, ReNew’s CEO.BII’s minority stake in the solar subsidiary underscores its long-term commitment to supporting clean energy development in India. Sally Taylor of the British High Commission called it “a positive step that strengthens the UK-India partnership on renewable energy.”

Related Stories

Gold Stories

Next Story
Equipment

Optimising Earthmoving

Constituting India’s biggest fleet of construction equipment by type, earthmovers positively impact project outcomes and company bottomlines if best practices are adopted. Here’s a guide from CW.Select the right machineOne of the biggest challenges in using earthmovers isn’t machine failure but using the wrong machine configuration for the application, according to Chaitanya Bhagde, P&M Head, SHC Projects. “Unless equipment is deployed after considering the soil type, excavation depth, haul distance and production target, the application will face low productivity, longer time depl..

Next Story
Real Estate

We engineer the way architecture gets built

DALBIR SINGH, Founder, HAACE, on the company’s bespoke approach to translating ambitious architecture into precisely engineered and executed structures.What does bespoke construction mean to HAACE, and how is it different from conventional contracting?For HAACE, bespoke construction means choosing the construction methodology around the design rather than forcing the design into a standard template. Every project is studied around its architectural intent, structural requirements and execution challenges. We deliberately take on a limited number of projects because this approach demands atte..

Next Story
Real Estate

Kamdhenu Realities acquires 4-acre Navi Mumbai land parcel

Kamdhenu Realities has acquired a 4-acre land parcel from RPG Life Sciences on Thane-Belapur Road for approximately Rs 1.5 billion, expanding its commercial real estate portfolio in Navi Mumbai.The parcel has a total developable potential of 1.8 million sq ft, on which Kamdhenu plans to develop a destination-scale commercial and lifestyle ecosystem. The proposed development will combine corporate office suites with high-street retail, F&B outlets, double-height lobbies, business infrastructure and lifestyle amenities.Located close to IKEA and opposite the upcoming Pawane Railway Station, t..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code