ReNew Power Transmission eyes $20 billion worth projects

Goldman Sachs-promoted ReNew Power is of hopeful of bagging $20 billion worth of Central and state-level power transmission network projects.

Ajay Bhardwaj, President Transmission, ReNew Power was quoted as saying by Business Standard: “ReNew Power will target a double-digit market share in power transmission in the coming 3-5 years. This translates into the company’s participation in 40-50 per cent of the transmission projects offered.”

The company started its ‘New Ventures’ division to explore business opportunities in energy storage, power transmission, floating solar, and wind-solar hybrid projects.

Bhardwaj further said that going forward, the company will look at both Centre and state transmission projects worth $2 billion.

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