ReNew Power calls on India to expand solar module market through trade partners

ReNew Power CEO Sumant Sinha called for greater global market access for Indian solar equipment manufacturers. Speaking at the RE-INVEST 2024 Summit in Gandhinagar, Gujarat,

Sinha stressed the importance of resolving trade issues with key partners such as the US, EU, Japan and Australia. He urged these countries to diversify their sources of solar modules by including Indian suppliers, which will expand market opportunities for Indian manufacturers.

During an interview with CNBC TV18, Sinha stressed the urgent need for faster execution of Power Purchase Agreements (PPAs) in the renewable energy sector. He also urged state governments to address challenges related to land acquisition and strengthening transmission networks to meet growing demand and support infrastructure development.

Going beyond India’s target of 500 GW of renewable energy capacity by 2030, Sinha has advocated for a redesign of the country’s energy system. He has proposed redesigning the national grid to accommodate capacity additions of 500 GW every few years after 2030, providing the scalability needed for long-term decarbonization.

ReNew Power, a leader in renewable energy solutions, is actively pursuing green hydrogen offtake contracts and pumped storage solutions. The company has already commissioned 6.5 GW of solar module production capacity, positioning itself as a key decarbonization partner for both corporations and state governments.