ReNew Power targets $2-bn transmission projects, double-digit market share

ReNew Power, expanding across the energy sector supply chain, says it is aiming for double-digit market share in the transmission sector.

ReNew recently started participating in transmission project tenders. The firm hopes to grab around Rs 2 billion worth projects in the segment. Estimates say the central and state governments will give out projects worth $20 billion (Rs 1.4 trillion). Promoted by Goldman Sachs, it started a ‘New Ventures’ division to explore opportunities in energy storage, power transmission, solar and wind-solar hybrid projects.

In August, it had bid for transmission projects worth Rs 1,500 crore but won none. Company executives say getting into transmission was a natural progression — with their extensive network of generation projects, it is cost-effective to build own transmission.