ReNew Power Transmission eyes double-digit growth, projects worth $20 bn

ReNew Power, which is expanding across the energy sector supply chain, is aiming to achieve double-digit growth in power transmission. The company, which recently started participating in transmission project tenders, is hopeful of grabbing $20 billion worth of Central and state-level power transmission network projects.

Goldman Sachs-promoted ReNew Power started its ‘New Ventures’ division to explore business opportunities in energy storage, power transmission, floating solar, and wind-solar hybrid projects.

In August this year, ReNew Power bid for transmission projects worth Rs 1,500 crore. However, it didn’t win any. Company executives said jumping into transmission is a natural progression for ReNew, as it already has an extensive network of generation projects and it is cost-effective to build own transmission.