Green startup 'Renew Power', a unique combination of environmental interest and self-reliant India - Newztezz Online


Wednesday, May 10, 2023

Green startup 'Renew Power', a unique combination of environmental interest and self-reliant India

Brand Story: Until a few years ago, there was a very slow pace in the wind power sector, but Renew Power moved forward rapidly with the expansion of its projects. Founder Sumant Sinha's hard work paid off. How did you get such a big success?

The most important example of how green startups are changing the traditional system of business is ReNew Power startup. This startup of Sumant Sinha is doing very important work in the interest of environment and is also achieving heights of business. According to information, a wide impact of renewable power in wind energy has been seen in India.

Starting with wind energy, Sumant Sinha's company has now expanded into biomass, solar and water energy sources. Within six years of operation, 'Renew Power' made its way into the coveted Unicorn Club in 2017.

When and how did it start?

Sumant Sinha is the leader of Renew Power. A graduate of IIT Delhi and IIM Calcutta, Sumant Sinha was earlier the CEO of Suzlon Energy. In the year 2010, he established a banking consultancy corporation named 'Savant Advisors'. In 2011, he formed a team at Savant Advisors to look after the business.

In fact the purpose of forming this team was to focus our attention on the business concept of 'Renew Power'. Sumant launched Renew Power in 2011 as a platform that develops and manages wind and solar power projects.

In fact, when he was working in Suzlon Energy, he had gained experience about the working style and requirements of wind energy. The special thing is that within a few months of its launch, the company received money from Goldman Sachs. By 2012, Renew Power commissioned its first wind farm in Rajkot, Gujarat.

What is the contribution of Renew Power?

The startup operates wind and solar plants across the country. Its purpose is to generate electricity from new sources. The company has major investors from around the world including Abu Dhabi Investment Authority, Canada Pension Plan Investment Board and JERA. While many startups are working in the sustainable power source industry, Renew Power has taken the lead in the country.

Government's policies became helpful

Government policies are also helping for the development of energy industry. Renew Power has over 10 GW of clean energy sources with an operational capacity of over 5.44 GW. The company also works to spread awareness about sustainable sources of energy and the merits of their use.

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