Renew Power aims to invest approximately Rs 44,000 crore by the end of FY26 to add up to 9 gigawatts of capacity, revealed the company's Chairman and CEO, Sumant Sinha. Currently possessing an installed capacity of 9.5 GW, the company plans to invest in both wind and solar projects. Sinha disclosed that they have already signed power purchase agreements for 5.5 GW of projects, slated for commissioning by the end of FY25. Additionally, they have secured bids for another 3.5 GW, although the PPAs are yet to be finalised.

Sinha outlined the costs involved, mentioning that it takes around Rs 4 crore per MW for solar capacity installation and over Rs 7 crore for wind, assuming a 40:60 mix between the two. Consequently, the average cost per MW of new capacity stands at over Rs 5 crore. He emphasised that the company is aiming to invest around Rs 44,000 crore in total, preferring domestic borrowing due to lower interest rates compared to international options.

Furthermore, Renew Power is venturing into the Green Hydrogen space through a joint venture with Indian Oil Corporation and L&T. Sinha also advocated for incentives such as import duty waivers and extending Special Economic Zone benefits for the sector. He believes these measures can collectively reduce the overall costs of green hydrogen manufacturing by 20% to about USD 2.75 per kilogram from the current USD 3.5.