ReNew Power has made a strategic decision to rebrand itself as ReNew. The new brand identity reflects the company’s evolution from a pure-play renewable independent power producer to an end-to-end provider of decarbonisation solutions. In keeping up with its strategy of focusing on the overall clean energy ecosystem, ReNew has been at the forefront of the development of emerging decarbonisation solutions such as green hydrogen, energy storage, carbon markets, and solar manufacturing.
ReNew’s new identity will reinforce its position as a leader in the energy services space and also a global brand with strong roots in India. ReNew’s endeavour is to build on its renewable energy business, and expand its offerings across the spectrum, that support decarbonisation within the context of the future of energy. According to industry estimates, global power consumption will triple by 2050 as electrification and living standards rise. Decarbonisation will be critical in meeting the sustainable development goals and strengthening global climate action.
In January 2023, ReNew Power announced that it had installed India’s first 3x platform wind turbine generators (WTG) in Gadag, Karnataka. The WTGs are 128-140m tall and have a nameplate capacity of 3.3-3.465 MW. They provide significantly more capacity than models previously installed in India which typically have a nameplate capacity of 2-3 MW. The new wind turbines will be part of the country’s first ‘Round The Clock’ renewable energy project and will combine wind, solar, and a battery energy storage system.This project will generate enough energy to power over 1 million Indian households annually. ReNew completed the on-site installations of the WTGs in 5 days each.
Additionally, in the same month, the new Norwegian Climate Investment Fund, managed by Norfund in collaboration with KLP, Norway’s largest pension company, will make its first investment of Rs 900 million in a ReNew Power transmission project in India. Norfund and KLP will invest approximately Rs 900 million in ReNew Power for a 49 percent ownership stake in ReNew’s transmission project in the Koppal district of Karnataka, with plans for additional joint investments.
