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ReNew Power to explore green hydro project in India, Egypt

Monday, 16 Jan 2023

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ReNew Power, renewable energy company is looking into ways to expand into green hydrogen in India, Egypt, and other countries.

The company, which currently produces almost 1.8 percent of India's annual electricity demand, has a total capacity of 13 Gigawatts (GW) of wind and solar, including projects under construction.

India seeks to boost its production of renewable energy from its current level of about 120 GW to 500 GW by 2030 and around 180 GW have already been auctioned off for solar and wind energy projects.

The market share of new bids held by ReNew Power is approx. 12 percent. India intends to produce five million tonne of green hydrogen by 2030, and Renew Power wants to be a part of that effort.

Following the signing of a framework agreement at COP27 last year, the company is also looking forward to green hydrogen business opportunities, particularly in Egypt.