ReNew Power Commissions 250 MW Solar Plant in Bikaner

Sumant Sinha has announced that the ReNew Power has successfully commissioned a 250 MW solar power plant in Bikaner, Rajasthan.

ReNew Power Chairman and Managing Director Sumant Sinha has announced that the company has successfully commissioned a 250 MW solar power plant in Bikaner, Rajasthan.

In a tweet, Sinha wrote that “on this auspicious day of Diwali, with the commissioning of our 250 MW solar project in Bikaner, ReNew Power crossed 5,000 MW of commissioned capacity. We are the first company in India and the 11th globally (excluding-China) to achieve this milestone.”

With the installation of the latest 250 MW solar plant in Bikaner, the company has reached the 5.2 GW mark for commissioned projects. Sinha has also announced that besides achieving the 5.2 GW mark for commissioned projects, the company’s pipeline of projects under development take total assets under development or commissioning beyond the 8 GW mark.

In a second tweet, Sinha thanked his team for achieving this milestone in a period of 8 years.

We now have 5.2 GW commissioned, with a pipeline that takes our total to over 8 GW. Special thanks to the most special team in the industry that made this possible in a period of less than 8 years. (2/2) https://t.co/DIqyJymgty

— Sumant Sinha (@sumant_sinha) October 27, 2019

 In July, we reported that the firm had raised $300 million (approx. Rs 2,050 crore) through a rights issue. Goldman Sachs, Abu Dhabi Investment Authority (ADIA), and Canada Pension Plan Investment Board (CPPIB) have subscribed to the issue, with each of the shareholders infusing $100 million, a company statement said.

Earlier in the year, it was reported that the firm had raised USD 350 million in debt funding from Overseas Private Investment Corp (OPIC), and another USD 435 million through the issuance of dollar-denominated green bonds.

More recently, we reported that the firm has promoted Senior Vice President Sanjay Varghese to the post of Executive President. In his new role Varghese will head the solar business of the company and report directly to Sumant Sinha, the firm issued said in a statement. The firm has also appointed Vishal Sehgal as the head of its corporate affairs functions. Sehgal has worked in various sectors.