ReNew Power Commissions 40 MW Wind Project in Karnataka

GURGAON, India, January 18, 2016 /PRNewswire/ --

ReNew Power Ventures Private Limited, one of India's largest clean energy companies, today announced the commissioning of 40 MW wind power project in the Raichur district of Karnataka. This project consists of 20 X 2 MW G97 turbines supplied by Gamesa India. With this, the total wind capacity commissioned by ReNew Power till date is 693 MW.

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The commissioning of this project gives a further boost to the leadership position that ReNew Power has in the clean energy space.

Sumant Sinha, Chairman and CEO, ReNew Power said, "We are pleased to have commissioned this project, which is in line with our highest quality standards and engineering capabilities. We are at a turning point where transformational use of natural resources of energy will define our future. This comes at an exciting time for us as ReNew Power enters a new phase of growth. The years ahead will define ReNew Power's role in altering how energy is produced, transmitted and distributed in this country."

Balram Mehta, EVP - Wind, ReNew Power said, "Wind is poised to add around 3000 MW in the year 2015-16 in spite of all the odds. Right from the start, ReNew Power has contributed significantly to capacity addition in wind. To give further impetus to the sector, it is important to have more clarity on regulatory issues. We hope in 2016 the sector grow at a much faster rate."

Founded in 2011 by Sumant Sinha, ReNew Power has more than 1,600 MW of commissioned and under-construction clean energy assets. Of this more than 745 MW assets are already commissioned. Currently, it operates in eight states (Gujarat, Haryana, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Telangana and Andhra Pradesh) across the country. Additionally, it has a pipeline of more than 1GW wind, solar and solar rooftop projects.

Some of ReNew Power's notable achievements:

1. ReNew Power is the highest capitalized renewable energy company in the country.
2. Renew Power is the largest capital raiser in debt markets in the renewable energy IPP sector in the last 3.5 years with over Rs 8,000 crore of debt sanctions.
3. In September 2015, ReNew Power installed and commissioned India's tallest wind tower. It is a lattice/tubular tower (hybrid tower) of 120 metre height, installed for the first time anywhere on-shore in the world.
4. Since its inception in FY 12, ReNew Power has a market share of more than 10% of total installed wind capacity in the country.
5. Also, in September 2015, ReNew Power launched the first-ever infrastructure bond issuance credit enhanced by IIFCL, rated AA+.
6. All ReNew Power projects are UNFCCC (United Nations Framework Convention on Climate Change) registered.
7. Scheduling and Forecasting is being done for all ReNew projects through ReNew Power Information System, which won the Skoch Smart Technology Award 2015.
8. Currently commissioned ReNew Power projects have mitigated 2.4 million tons of CO2 emissions till date, and will mitigate more than 37 million tons of CO2 emissions in their lifetime.
9. The company is backed by marquee investors including Goldman Sachs, Abu Dhabi Investment Authority (ADIA), Global Environment Fund and Asian Development Bank.

About ReNew Power Ventures Pvt. Ltd. 

ReNew Power Ventures Pvt. Ltd, an Independent Power Producer (IPP) company, is committed to leading change in the country's current energy portfolio by delivering cleaner and smarter energy choices and thereby, reducing India's carbon footprint. ReNew Power's mission is to play a pivotal role in meeting India's growing energy needs in an efficient, sustainable and socially responsible manner. The company creates value through reliable and efficient generation of non-conventional power through innovation in solar and wind power solutions. ReNew Power has more than 1,600 MW of commissioned and under-construction clean energy capacity across the states of Maharashtra, Rajasthan, Karnataka, Gujarat, Madhya Pradesh, Haryana, Telangana, and Andhra Pradesh. For more information please visit: www.renewpower.in. Follow ReNew Power on Twitter @ReNew_Power

Media Contact:
Vimarsh Bajpai
[email protected]
+91-9971687647
Senior Manager, Corporate Communications
ReNew Power Ventures Pvt. Ltd.