Current Affairs PDF

ReNew Power Pvt. LtdTo Invest $9 Billion in Wind and Solar Projects

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

Goldman-backed ReNew to invest $9 billion onOn April 7, 2021, ReNew Power Pvt. Ltd stated that, it will invest $9 Billion(~ INR 67,154 Crore) in Wind and Solar Projects through 2025 in order to help the government of India’s Green Push Initiative.

Objective – To reduce the emission & create climate friendly environment.

Target – To more than triple its renewable power capacity to 18.5 gigawatts by 2025.

About the Organization:

ReNew has about 5.4 gigawatts of operational wind and solar plants, while 4.5 gigawatts of projects are under development.

Stats of India:

  • India, the world’s third-biggest emitter of greenhouse gases, aims to reduce its dependence on coal and expand renewable power capacity almost five-fold to 450 gigawatts by 2030.

Note – International Energy Agency (IEA) notified that, New Generation of Indiawill spend 5% annual growth in power demand through 2040.

About ReNew Power Pvt. Ltd:

It is backed by investors such as Goldman Sachs Group Inc. and Canada Pension Plan Investment Board.

Chairman– Sumant Sinha
Head quarter – Gurugram, Haryana