Renew Power, a Nasdaq-listed company, has completed a 300-MW SECI solar project in Rajasthan, bringing the company’s total operating asset to an all-time high of 7.4 gigawatts. Despite pandemic problems and supply chain bottlenecks, the Gurugram-based firm has erected a record 1.5 GW of renewable energy projects this fiscal year and is on target to fulfill its goal of 8.2 GW of operational capacity by the end of 2021-22. According to a statement released on Tuesday, Renew Power closed with 5.6 GW of operating capacity in 2020-21.

The majority of Renew’s organic capacity development, which propelled it above the 7 GW threshold, took place in Rajasthan and Gujarat. More than 1.3 GW of utility-scale solar projects is included in the new 1.5 GW capacity boost. Rajasthan has 1.2 GW, Gujarat has 105 MW, and Maharashtra has 20 MW. It has installed about 150 MW of wind power, including 136 MW in Karnataka and 22 MW in Gujarat.

As much as 1.05 GW of the new generation capacity has PPAs with Solar Energy Corporation of India (SECI) for 25 years. Company chairman and chief executive Sumant Sinha said the company is on track to achieve its aspirational goal of 18 GW by FY25 and 8.2 GW by the end of this fiscal year. Renew Power recently announced a partnership with L&T for developing green hydrogen capacity. Renew Power is one of the largest independent power producers in the renewable space. It develops, builds, owns, and operates utility-scale wind and solar energy projects, hydro projects, and distributed solar energy projects and as of November 2021, its total capacity stood at 10.3 GW including commissioned and committed projects.

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