Davos 2025: ReNew to expand renewable energy capacity to 25GW by 2027, says CEO Sumant Sinha – EQ
In Short : At Davos 2025, ReNew CEO Sumant Sinha announced plans to expand the company’s renewable energy capacity to 25GW by 2027. The initiative aligns with India’s push for clean energy and sustainability. ReNew aims to achieve this target through investments in solar, wind, and hybrid projects, strengthening its position as a leader in the renewable energy sector.
In Detail : Gurugram-based green energy company ReNew is on track to expand its renewable energy portfolio to 25 gigawatts (GW) by 2027, said Chairman and CEO Sumant Sinha in an interview with Moneycontrol at the World Economic Forum in Davos.
“The company has already commissioned 11GW and won another 14GW in auctions, bringing its total portfolio to 24-25 GW, which will be executed over the next three to four years,” Sinha said on January 22.
In April of 2024, the company announced that the renewable energy assets of the firm crossed 10GW.
“ReNew has completed construction of 1.94GW of renewable energy assets in FY24, taking the cumulative capacity set up by the company to over 10GW. Accounting for assets sold, the company’s revenue generating capacity stands at 9.52 GW as on March 31, 2024,” ReNew said in a statement.
Of the 1.94GW (1,940 MW) capacity worth Rs 10,840 crore, the company added 1,174MW of solar and 768MW of wind energy during FY24. This is one of the highest ever capacity additions of wind energy among all companies in India, in a single year, the firm said.
Sinha emphasised the company’s focus on India’s large and growing renewable energy market, stating, “Our market is large, and we’re focused on domestic opportunities. With a vision of 500GW, we are indigenizing the supply chain and well embarked on that path.”
With an 8 percent market share in installations, ReNew aims to maintain its leadership position as more capacity is auctioned.
“With an 8 percent market share in installations, we aim to maintain that as we expand significantly. As more capacity is auctioned, we’ll continue growing steadily,” Sinha added.
Addressing global political dynamics, Sinha said that the impact of US President Donald Trump’s withdrawal from the Paris Climate Accord on India will be minimal.
“In India, Trump pulling out of the climate accord has little impact on us. Our market is large, and we’re focused on domestic opportunities,” He said.
As on December 31, 2023, ReNew had a balance sheet size of around Rs 88,600 crore ($10.6 billion). The company has over 150 renewable energy sites across 10 Indian states and employs more than 4,000 people. It has now also got into backward integration through the manufacturing of solar modules and cells.
