ReNew Power Venture, a renewable energy company plans to double its generation capacity to 5 GW in the next two years. At present it has installed generation capacity of 2.4 GW and plans to add 1 GW capacity this fiscal.
An estimated investment of Rs 10,000 crore would be required to double the capacity to 5 GW and company sources say they have sufficient funds for the same. The company invested Rs 6,700 crore (USD 1 billion) to add 430 MW of solar and 626 MW of wind capacity in 2016-17. In April, ReNew Power Ventures had announced doubling its power generation capacity in a year’s time, which crossed 2 GW.