NOVEMBER 20238RENEW POWER TO FUNNEL RS.44,000 CR TO INCREASE ENERGY CAPACITYAccording to Sumant Sinha, the Chairman and CEO of Renew Power, the company is aiming to invest approximately Rs 44,000 crore by the completion of FY26. This investment will contribute to an additional capacity of 9 gigawatts. According to him, the company, with a capacity of 9.5 GW, intends to invest in wind and solar projects in the future. These investments will require approximately Rs 5.5 crore per MW.In the words of Sinha, the company has successfully secured power purchase agreements for 5.5 GW of projects that are scheduled to be commissioned by the end of FY25. Additionally, they have been awarded bids for another 3.5 GW of projects, although the signing of power purchase agreements is still pending.The cost to install solar capacity is approximately Rs 4 crore per MW, while wind capacity costs over Rs 7 crore per MW. Assuming a distribution of 40 percent solar and 60 percent wind, the average cost of new capacity is over Rs 5 crore per MW.Sinha mentioned that we are aiming to invest approximately Rs 44,000 crore at a ballpark level. He conveyed this comment during the unveiling of the second edition of his book 'Fossil Free'. GREEN INDUSTRY JOBS TO INCREASE BY 3.7 MILLION BY 2025: REPORTSAccording to TeamLease Digital's Green Industry Outlook report, which was shared exclusively with ET, the country's green industry is expected to add 3.7 million jobs by FY25, to the current 18.5 million.Renewable energy, environmental health and safety, solar energy, corporate social responsibility, and sustainability are the most in-demand green skills. Solar project managers, solar O&M technicians, wind energy engineers, biofuel process engineers, carbon analysts, sustainability consultants, PCB design engineers, e-waste managers, and hydrogen project managers are also on the list."Waste management, which includes e-waste, is expected to grow by 20 percent, while the wastewater management sector is expected to grow by 16 percent (in terms of jobs) by FY25," Munira Loliwala, assistant vice president of strategy and growth at TeamLease Digital, told ET. Renewables are expected to account for 30 percent of total jobs, with green construction accounting for 18 percent and climate change accounting for 15%, according to Loliwala.Companies reported aggressive hiring across all industries. According to C Jayakumar, head of corporate human resource at Larsen & Toubro, where managing director SN Subrahmanyan is leading the wave of elevating green business, around 37 percent of revenue comes from green businesses, and hiring will be proportional to its revenue contribution. TOP STORIES
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