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ReNew announces its 5 GW partnership with Petronas | Mint - Mint

Mint · last updated

ReNew announces its 5 GW partnership with Petronas | Mint

Gentari Renewables India Pte. Ltd will have a 50% equity stake in NASDAQ-listed ReNew’s utility scale 5 GW renewable energy portfolio comprising of solar, wind and energy storage projects. This comes in the backdrop of ReNew lining an ambitious Rs35,000 crore capital expenditure plan

New Delhi: ReNew Energy Global PLC on Wednesday announced its equal joint venture (JV) with Malaysia’s state-run oil and gas company, Petroliam Nasional Bhd subsidiary Gentari Sdn Bhd to develop 5 giga watt (GW) capacity.

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Related Knowledge Center: ENERGY BASICS: renewables

State of Play

Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.

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