ReNew to explore investment opportunities in hydrogen

ReNew will explore investment opportunities in the green hydrogen space as the clean energy firm is expanding its business portfolio.

ReNew will explore investment opportunities in the green hydrogen space as the clean energy firm is expanding its business portfolio, its chairman Sumant Sinha said. Sinha made the remarks on the sidelines of an event organised in the national capital for re-branding his company ReNew Power as ReNew.

ReNew is one of the largest independent power producers (IPPs) globally, producing renewable energy through solar and wind-based projects

Asked whether the company is looking to increase its presence in the hydrogen value chain, including manufacturing of electrolysers and green ammonia, Sinha replied in affirmative.

Green ammonia is basically a downstream product of green hydrogen, it is a way to transport the green hydrogen. Besides, manufacturing of electrolysers is also something which ReNew is looking at, he told.

The company is also eyeing segments like digital energy services and carbon markets, so it was felt that “the name ReNew fits very well, so we decided to remove Power from our name,” said Sinha, who is also the founder and CEO of the company.