In the next five years, technologies like energy storage and green hydrogen would fundamentally reshape India’s renewable energy ecosystem, a top executive said.
“Storage will be a game changer in addressing intermittency, enabling renewables to deliver firm, dispatchable power. We are already seeing hybrid projects and battery-backed solutions provide four or more hours of reliable supply, which is critical as industrial and commercial demand rises,” said Vaishali Nigam Sinha – Co Founder and Chairperson, Sustainability, ReNew Energy in an interview.
“Green hydrogen will play an equally transformative role, particularly in decarbonizing hard-to-abate sectors such as steel, cement, fertilizers, and heavy transport,” she said.
With the National Green Hydrogen Mission targeting 5 million tonne of production by 2030, supported by dedicated renewable capacity, cost would fall sharply as electrolyzer manufacturing scales and renewable power becomes even more competitive, she said.
“Together, storage and green hydrogen will help shift renewables from being perceived as variable to becoming a baseload alternative, enabling round-the-clock clean power. This will significantly enhance grid stability, energy security, and India’s global competitiveness in clean energy manufacturing and exports,” Ms. Sinha added.
Stating that India’s plan to reach 500 GW of non-fossil capacity by 2030 would require investment of around ₹30 lakh crore, she said it would be mobilised through green bonds, blended finance structures, and multilateral participation, alongside growing interest from global investors seeking long-term, stable returns.
“We are also seeing increasing momentum around financing solutions for hybrid and storage-backed projects, which reduce risk and improve bankability, especially for industrial and commercial off-takers looking for round-the-clock clean power,” she said.
“From a grid integration perspective, investments in green energy corridors, transmission upgrades, and battery storage systems will be critical. Mechanisms such as time-of-day tariffs, RTC power contracts, and demand flexibility tools will help absorb large volumes of renewable energy while minimizing curtailment. Together, these developments will strengthen grid resilience and support job creation, emissions reduction, and sustainable growth across India’s power sector,” she added.
ReNew which entered the solar manufacturing space in 2023 and has ramped up its capacity in modules and cells in the last 2 years is now planning to foray into manufacturing of wafers. In Andhra Pradesh, it is planning to set up a 6 GW PV ingot and wafer manufacturing facility, among other clean energy projects.
“We have a module manufacturing capacity of 6.5 GW in Jaipur, Rajasthan and cell manufacturing of 2.5 GW in Dholera, Gujarat, which we aim to scale to 6.5 GW by next year. This year we also secured an investment of $100 million from the British International Investment to set up a new state-of-the-art TOPCon cell facility in Dholera,” M.s Sinha said.
“As the government plans to stop wafer imports by 2028, making it necessary to set up domestic wafer production, that is also an area we are looking explore. We are working with states like Andhra Pradesh, where we aim to set up a 6 GW PV ingot and wafer manufacturing facility, among other clean energy projects,” she added.
“Given the trajectory of the growth of India’s solar manufacturing sector, we anticipate that over the next 4-5 years, India will have a fully domestic solar manufacturing chain, making it the only country apart from China to have it, positioning us as the major alternative supplier globally,” she emphasised.
She said sustainability had always been core to ReNew’s purpose, and it’s ESG initiatives were designed to create impact beyond clean power generation, she said through the ReNew India Initiative, the company had positively impacted over 1.7 million lives so far, with a CSR spend of around ₹32 crore in FY25, including ₹13.1 crore dedicated to environmental programmes.
“Our interventions focus on climate-resilient livelihoods, education, skilling, and inclusive development in communities where we operate. Initiatives such as women-led manufacturing lines and targeted programs to improve gender representation reflect our commitment to inclusive growth,” she said.
“Strong governance underpins all our sustainability efforts, supported by robust disclosures and Board-level ESG oversight. This is reflected in our score of 84 in the S&P Global Corporate Sustainability Assessment the highest ever for an India-based energy company. This recognition reiterates ReNew’s leadership as a global sustainability pioneer, driving the energy transition and shaping the future of clean energy across emerging markets. It also marks the first time an India-based energy company has crossed the 80-point threshold in one of the world’s most respected ESG benchmarks,” she added.
On gender diversity and inclusion, she said these are seen not just as social imperatives but as strategic enablers of innovation, performance, and sustainable growth.
“ReNew’s latest disclosures show that the company has achieved approximately 16% overall gender diversity, with women holding 40% of board positions, 12% of STEM roles, and around 17% of management positions, notable progress in an industry where female representation has historically been low,” she said.
“Beyond these metrics, ReNew has set forward-looking aspirations to further elevate women’s participation, including a target of 30% women in its workforce by 2030 and has strengthened institutional mechanisms such as its Diversity & Inclusion Council, formal Gender Pay Parity Policy and a structured approach to recruitment, skill development, and leadership pathways for women,” Ms Sinha said.
“Initiatives such as Power of W focused on attracting, retaining and developing women talent along with anti-discrimination and POSH policies, reflect a holistic effort to embed equality and safety into workplace culture,” she said.
“For ReNew, advancing gender diversity is intrinsically linked to building a resilient and future-ready clean energy workforce, where diverse perspectives help drive technological innovation, stronger governance, and positive social impacts as the company and India’s renewable sector scale up,” she added.
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