RENEW TO EXPLORE INVESTMENT OPPORTUNITIES IN HYDROGEN SEGMENT: CHAIRMAN SUMANT SINHA

ReNew will explore investment opportunities in the green hydrogen space as the clean energy firm is expanding its business portfolio, its chairman Sumant Sinha said. Sinha made the remarks on the sidelines of an event organised in the national capital for re-branding his company ReNew Power as ReNew. ReNew is one of the largest independent power producers (IPPs) globally, producing renewable energy through solar and wind-based projects. Asked whether the company is looking to increase its presence in the hydrogen value chain, including manufacturing of electrolysers and green ammonia, Sinha replied in affirmative. Green ammonia is basically a downstream product of green hydrogen, it is a way to transport the green hydrogen. Besides, manufacturing of electrolysers is also something which ReNew is looking at, he told PTI.

On the rationale behind re-branding the firm, Sinha explained, “I think as a company earlier focus was on the electricity sector and therefore our name of ReNew Power was quite appropriate, but I think going forward, we are looking at a number of different sectors (like) green molecules, downstream of green fuels are the areas we are looking as well.” The company is also eyeing segments like digital energy services and carbon markets, so it was felt that “the name ReNew fits very well, so we decided to remove Power from our name,” said Sinha, who is also the founder and CEO of the company.

Source: PTI

The Government of India has been taking a number of steps to ensure availability of renewable energy at optimum cost for production of Green Hydrogen. These, inter-alia, include: Waiver of inter-state transmission charges has been granted for a period of 25 years to the producer of Green Hydrogen and Green Ammonia for the projects commissioned before 30th June 2025.

The Electricity (Promoting Renewable. Energy Through Green Energy Open Access) Rules, 2022, notified in June 2022 have specified provisions for facilitating supply of renewable energy through Open Access for Green Hydrogen production.

The Green Energy Corridor Scheme (Phase I with an outlay of ₹ 10,141.68 crore and Phase II with an outlay of ₹ 12,031.33 crore) includes laying of transmission lines and creation of new sub-stations for evacuation of renewable power.

This information was given by Shri R.K Singh Union Minister for Power and MNRE in a written reply in Lok Sabha.