VWSYF - ReNew Energy Global: The Indian Renewables Opportunity Is Opening Up
2024-02-21 12:27:17 ET
Summary
- India is the world’s fourth biggest renewables market and plans are to treble renewable development.
- Nasdaq-listed ReNew Energy Global is a major player in the Indian renewables market and it's growing its influence substantially.
- India is poised for major uplift in solar/wind development by 2030 (and beyond). Renewables auctions are up from 11.3 GW in FY23 to 40.2 GW in FY24 (more to come).
- Solar PV costs are dramatically reduced and ReNew Energy benefits from its own solar PV manufacture. ReNew Energy has a strong position in wind projects and it's also heavily invested in grid improvements.
- Investors with a global view might find India interesting and ReNew Energy Global a vehicle to participate.