New Delhi: British International Investment (BII) has invested $ 100 million in the Solar Module and an organization producing an organization of an organization subsidiary of NASDAQ RENED ENERGY ENERGY GLOBAL PLC.
According to the application to the Security Committee and the stock exchanges of the Security Committee and stock exchanges dollars.
The investment might be implemented so as to add 4 solar module gigawatts and cell production capability. Renew has 6.4 GW module capability and a couple of.5 GW cell capability. The cumulative renewal capability might be about 13 GW after adding capability.
BII has recently sold its participation in the National Investment and Infrastructure Fund Ayana Renewable Power PVT LTD on ONGC NTPC Green Private Ltd Wa ₹6600 CRERE Capital. Ayana manages the Portfolio of Renewable Energy 4.1 GW in Indian countries and provides sun, wind, hybrid, storage and 24 -hour solutions.
Renew said in an announcement on May 6 that that is the first BII investment in solar production in India.
“This partnership emphasizes our commitment to providing high -quality highest quality products,” said Sumant Sinha, founder and chairman of Renew. “Turning to production was a strategic decision aimed at securing our supply chain, especially as India developed, which is the nativeness of the sun supply chain … Our goal was to cooperate with a similarly thinking long -term partner in the production sector.”
Sally Taylor, minister of climate advisor, science and technology at British High Commission, said that the investment in the subsidiary of Renew diversifies the supply of panels and builds a robust partnership between Great Britain and India in the field of pure energy.
“The Great Britain’s government presses pure energy to its own transition, in which the private sector plays a key role, and we want to cooperate with India and other countries showing national and international leadership on dealing with climate change,” said Taylor.
Expanding the initial cell
Shilpa Kumar, MD and the boss of India on the BII, they noticed that increasing the ability of India in solar production won’t only increase the production of pure energy, but additionally reduce the country’s dependence on imports, promotes sustainable industrialization and create jobs.
“He emphasizes the unwavering BII involvement in making investments that drive sustainable development and climate resistance in India,” said the head of India BII.
Established in 2021, Rened Phovoltaics runs the Solar PV 6.4 GW module in Jaipur and the Solar Cell object 2.5 GW in Dholera, Gujarat. The BII investment might be used primarily to construct a 4 GW cell facility in Dholera. The expansion is predicted to create over 2,000 jobs, said the company in an announcement.
Photovoltaics customers include NTPC and Shakti pump.
(*100*) an interview with Mint (*100*) September 2024, Sinha said that Rened Energy Global was analyzing the production activity of solar components and will approach Private Equity to lift funds.
