Industry Renewable energy Website renewpower.in Founder Sumant Sinha Number of employees 250 (April 2016) | Area served India Headquarters Gurgaon Founded January 2011 | |
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Key people Sumant Sinha (Chairman) Products Wind Power, Solar Power, Solar Rooftop Power Subsidiaries Renew Wind Energy (Rajkot) Private Limited | ||
Mr parag sharma coo renew power ventures pvt ltd
ReNew Power Ventures Pvt. Ltd. is an Indian renewable energy company headquartered in Gurgaon, Haryana, India. It is an Independent Power Producer (IPP) of clean energy with an installed capacity of more than 1000 MegaWatt across the states of Rajasthan, Madhya Pradesh, Haryana, Karnataka, Andhra Pradesh, Telangana, Maharashtra and Gujarat, ReNew Power commissioned its first wind farm project in Rajkot district in Gujarat in 2012. Shri. Narendra Modi, the Prime Minister of India, inaugurated the 25.2 MW wind farm at Jasdan.
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Gamesa Wind Turbines Ltd. successfully competed for a contract from ReNew to supply wind turbines for different projects worth 75 MW, in the state of Maharashtra in 2012. ReNew Power also awarded a 100 MW project worth Rs.750 crore to Suzlon Energy in June 2014 and won a 57.5 MWp ground mounted grid connected Solar PV project in Madhya Pradesh in 2014. With an active foray into solar and solar rooftop, it has recently commissioned a 300 kWp roof top grid connected Solar PV project in the National Capital Territory of Delhi in 2014.
In September 2015, ReNew launched the first ever infrastructure bond issuance credit enhanced by IIFCL. The issuance of Bonds is to the extent of Rs.451 crore by ReNew Wind Energy (Jath) Ltd., a subsidiary of ReNew Power Ventures Pvt. Ltd., for replacement of the existing debt of the infrastructure project company. ReNew Power commissioned first hybrid towers in India at Bhesada, Rajasthan. These towers are the tallest wind turbines in India and this is the first time that hybrid towers are installed on shore anywhere in the world.
ReNew Power has a pipeline of close to 1400 MW solar and wind projects. ReNew Power aims to take its project portfolio to more than 2000 MW by 2017 end.
Renew power
History
ReNew Power was established by Mr. Sumant Sinha in January 2011. Goldman Sachs committed US$200 million in Sept 2011. Further investments by Abu Dhabi Investment Group (US$200 M), Goldman Sachs(US$170 M), Asian Development Bank (US$50 M) and Global Environment Fund (US$35 M) have taken the total equity to US$655 million. In March 2016, ReNew Power secured a US$250 million line of long-term credit from the Overseas Private Investment Corporation (OPIC), an agency of the US government, for funding its solar projects.
Project locations
ReNew Power has a portfolio of more than 1000 megawatts (MW) located in 8 States of India. These include: