ReNew Power signs MoU to invest Rs 500 billion in Karnatakaover 7 years

ReNew Power has signed a memorandum of understanding (MoU) with the Karnataka government to invest Rs 500 billion in the state over the next seven years.

The company will be expanding and establishing solar, wind, green hydrogen and renewable energy plants in Karnataka. The investment has the potential to create employment opportunities for 30,000 people. The company plans to set up production units in two phases. In the first phase, Rs 119 billion would be invested on the ongoing projects in the state and they would be operationalised in the next two years.In the second phase, the company plans to invest Rs 375 billion to set up renewable energy and green hydrogen units over the next five years.

 

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