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ReNew Power moots INR 50,000 crore investment in renewables, battery, green hydrogen units in Karnataka

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24th May, 2022 20:25 IST

Delhi-based ReNew Power on Tuesday signed up with Karnataka proposing to invest Rs 50,000 crore in solar, wind and hybrid projects, battery storage and green hydrogen plant over a seven year period.

ReNew Power chairman Sumant Sinha signed the MoU with Karnataka’s additional chief secretary (Industries) EV Ramana Reddy in the presence of chief minister Basavaraj Bommai, Industries Minister Murugesh Nirani and IT/BT Minister CN Ashwath Narayan at the Karnataka Pavillion at the world economic forum (WEF) in Davos.

The project, according to the MoU, will add about 30,000 jobs.

Bharti Enterprises Chairman Sunil Bharti Mittal also met the chief minister and expressed his Group's interest to set up a data centre in Karnataka. The chief minister, according to his office, promised to support the project for speedy implementation.

Bommai and Nirani also met Adani Group founder Gautam Adani and Pranav Adani. The group had recently expressed interest to invest about Rs 50,000 crore in Karnataka, the Industries Minister said in a tweet.

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