ReNew Power to enter solar manufacturing with Rs 2,000 cr investment plan

Goldman Sachs-backed firm plans plant for 2 Gw of solar cells and modules, is in talks with several states to set up plant

India’s leading renewable power generation company, Goldman Sachs-promoted ReNew Power, has announced its entry into manufacturing solar cells and modules on Thursday. The company has indicated it will invest close to Rs 1,500-2,000 crore for its manufacturing facility of 2 gigawatt (Gw).

The company said it is “in talks with several states to set up the unit”.

In a public statement, ReNew Power said, “its foray into manufacturing will not only help it in backward integration, but also provide it better control over the supply chain of critical components”.

The company said with the manufacturing unit, it now aims to