ReNew Power to bet on Solar PLI scheme, plans manufacturing foray

Firm is among top-5 renewable energy players in India with a solar and wind power portfolio of 9.8 Gw of commissioned and under construction capacity

Gurgaon-based Goldman Sachs-backed ReNew Power is planning to participate in the production linked incentive (PLI) scheme for solar manufacturing, thereby expanding its portfolio from generation and transmission to manufacturing as well. ReNew is one of the top five renewable energy companies in India with a solar and wind power portfolio of 9.8 Gw of commissioned and under construction capacity.

Speaking with Business Standard, Sumant Sinha, chairman and managing director, ReNew Power, said India’s plan to encourage local manufacturing through imposition of import duties and schemes such as PLI, was a good move.

“We certainly are interested because we believe that