ReNew Power Ventures is an Independent Power Producer (IPP) of clean energy with more than 3000 MW of commissioned and under-construction clean energy assets. Currently, it operates in nine states (Gujarat, Haryana, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Telangana, Jharkhand and Andhra Pradesh) across the country.
BLAZE TO BRILLIANCE
Additionally, it has a development pipeline of close to 1,800 MW solar, wind and distributed solar projects. Of this, close to 1,200 MW of assets are already commissioned. ReNew Power has raised total equity of $655 million. The company currently has an asset base of close to $2 billion.
ReNew Power is backed by marquee investors such as Goldman Sachs, Abu Dhabi Investment Authority, Asian Development Bank, and Global Environment Fund. ReNew Power’s mission is to play a pivotal role in meeting India’s growing energy needs in an efficient, sustainable and socially responsible manner.
1. In September 2015, ReNew Power installed and commissioned India’s tallest wind tower. It is a lattice/ tubular tower (hybrid tower) of 120 m height, installed for the first time anywhere onshore in the world.
2. Also, in September 2015, ReNew Power launched the first ever infrastructure bond issuance credit enhanced by IIFCL, rated AA+. PROMISE BEACON
1. ReNew Power is the highest capitalized renewable energy company in the country.
2. Till date ReNew Power has constructed over 1100 kms of roads. Currently commissioned ReNew Power projects are mitigating 2.50 million tons of CO2 emissions annually, and will mitigate more than 63 million tons of CO2 emissions in their lifetime.
ENGAGEMENT THAT ENTHRALLS
ReNew Power has the largest portfolio commissioned of (1,200MW) and pipeline (1,800 MW) assets are under construction in the clean energy space in India, with a large presence in both solar and wind. ReNew Power is the largest capital raiser in debt markets in the renewable energy IPP sector in the last 4 years with over INR 10,000 cr. of debt sanctions. Scheduling and Forecasting is being done for all ReNew projects.
ReNew Power is committed to leading a change in the country’s current energy portfolio by delivering cleaner and smarter energy choices and thereby reducing India’s carbon footprint. The company creates value through reliable and efficient generation of non-conventional power through innovation in solar and wind power solutions.
Since its inception in FY 12, ReNew Power has a market share of more than 10% of total installed wind capacity in the country. All ReNew Power projects are UNFCCC (United Nations Framework Convention on Climate Change) registered. ReNew Power is the first India renewable energy company to raise debt financing from the Overseas Private Investment Corporation (OPIC).