ReNew Energy Plans Major Investments in Green Hydrogen and Energy Storage in India
ReNew Energy is set to invest approximately ₹30 lakh crore over the next five years to enhance India's renewable energy sector, focusing on green hydrogen and energy storage technologies. The company aims to achieve 500 GW of non-fossil capacity by 2030, in line with the National Green Hydrogen Mission's target of 5 million tonnes of production. Additionally, ReNew is committed to increasing gender diversity within its workforce, aiming for 30% female participation by 2030.
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ReNew Energy aims to transform India's renewable energy ecosystem over the next five years through advancements in energy storage and green hydrogen technologies. The National Green Hydrogen Mission targets 5 million tonnes of production by 2030, with a focus on reducing costs through increased electrolyzer manufacturing and renewable energy competitiveness.
The company plans to invest approximately ₹30 lakh crore to achieve 500 GW of non-fossil capacity by 2030, utilizing green bonds and multilateral funding. ReNew has established a module manufacturing capacity of 6.5 GW and cell production of 2.5 GW, intending to grow these figures.
Additionally, it is exploring domestic wafer production to reduce imports by 2028. The company's initiatives in gender diversity include targeting 30% female workforce participation by 2030 and achieving significant representation in leadership roles.
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