Reports about abandoning Nagpur project are misleading and incorrect: ReNew
ReNew, a leading renewable energy company, on Thursday clarified that news carried in certain sections of media in Nagpur was misleading. The news reports had stated that ReNew has "abandoned" its proposed project in Nagpur due to "unrealistically high power tariffs" and inconclusive discussions with government officials.
ANI
Sep 19, 2024 16:52 IST
New Delhi [India], September 19 (ANI): ReNew, a leading renewable energy company, on Thursday clarified that news carried in certain sections of media in Nagpur was misleading. The news reports had stated that ReNew has "abandoned" its proposed project in Nagpur due to "unrealistically high power tariffs" and inconclusive discussions with government officials.
They alleged that ReNew is transferring its investment from Nagpur in Maharashtra to Dholera in Gujarat.
The news reports are "not only misleading and factually incorrect but also irresponsible", the company said in its response statement.
In Maharashtra, the company is planning to invest in the upstream value chain of solar manufacturing, and it is not investing in similar projects in Gujarat or any other state.
"ReNew is one of the largest renewable energy companies in Maharashtra and stands by its commitments in the state," the company said.
The company has an installed capacity base of 550 MW in Maharashtra and an additional 2000 MW under construction.
It is on track to install 2000 MW by 2025-26, with investments of Rs 15,000 crore.
Working in tandem with the state government, ReNew is also considering setting up green hydrogen manufacturing capacities in the state along with pumped hydro storage, projects that are likely to create around 30,000 jobs.
ReNew is supplying 550 MW of power to Maharashtra Discom MSEDCL at a very competitive rate and is playing a significant role in enhancing clean energy in the state, with its existing and committed investments in the state close to Rs 100,000 crores.
"ReNew deeply values its relationships with the state of Maharashtra and is a committed partner in the state's clean growth," it added.
As per ReNew's website, it has a contracted portfolio of 15.6 GW as of August 15, 2024.
In addition to being a major independent power producer in India, it provides end-to-end solutions in a just and inclusive manner in the areas of clean energy, and value-added energy offerings through digitalization, storage, and carbon markets that increasingly are integral to addressing climate change. (ANI)
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