Japan's Mitsui to invest in ReNew Power's renewable energy project

ReNew Power renewable energy project to provide 400 MW of electricity to state-owned electricity.

ReNew Power and Japan’s Mitsui have signed an agreement that will have the Japanese company invest in a round-the-clock renewable energy project the Indian company is developing.

The project will set up three wind farms and a solar-plus-battery storage farm in Rajasthan, Karnataka, and Maharashtra. It will provide 400 MW electricity to the state-owned Solar Energy Corporation of India (SECI). The farm will have a capacity of 1,300 MW and 100 MWh in battery storage.

The project "will feed into" India’s climate change commitments and target of scaling up the renewable energy sector, said a press release from the two companies.

The project "provides the lowest cost and emission-free 24 X 7 renewable electricity. We are proud to partner with Mitsui, a leading global conglomerate, to support India’s green energy transition and look forward to strengthening this partnership in the future,” said Sumant Sinha, Founder, chairman and chief executive officer of ReNew Power.

"We view India as an extremely promising market for many reasons, including its high economic growth and strong commitment towards decarbonization. Through this project, Mitsui will accelerate India’s clean energy transition together with ReNew,” said Ryoichiro Uno, General Manager in charge of infrastructure projects in India, Middle East, and Africa of Mitsui.

Two days ago Indian Oil Corp. Ltd announced partnering with ReNew Power and Larsen & Toubro Ltd. to produce green hydrogen that’s fast gaining momentum in the South Asian nation’s clean push.