Whalesbook
Hinduja Group Accelerates Green Energy Ambitions
Hinduja Renewables Energy Pvt Ltd (HREPL) announced a significant expansion plan, earmarking approximately $4 billion (₹36,130 crore) to boost its renewable energy capacity from the current 3 GW to 10 GW. This more than threefold increase signifies a decisive pivot by the Hinduja Group towards cleaner energy sources.
Strategic Shift to Wind and Storage
Deepak Thakur, MD & CEO of HREPL, highlighted the company's strategic shift. "We are pivoting decisively towards wind power, energy storage, and digitalization," Thakur stated, aligning with India's clean energy market transition. This move sees HREPL evolving from its largely solar-dominated portfolio to offering round-the-clock, dispatchable green power.
The company is developing its first solar-wind hybrid project in Gujarat and is actively identifying additional wind sites. Co-locating wind and solar assets is a key strategy to optimize infrastructure use and manage costs more effectively. This emphasis on wind power aligns with the market's growing demand for firm and dispatchable renewable energy.
Ambitious Energy Storage Goals
Energy storage is another cornerstone of HREPL's growth strategy. The company is pursuing both battery energy storage systems (BESS) and pumped hydro storage (PHS). HREPL has secured preliminary agreements for approximately 11,000 MW of pumped storage capacity across several Indian states, including Assam, Uttar Pradesh, Chhattisgarh, Odisha, and Uttarakhand.
An initial 1,000 MW pumped storage project in Assam is nearing its detailed project report (DPR) completion. Investment for such projects is estimated between ₹4,000 to ₹5,000 crore per 1,000 MW. Over the next five years, HREPL anticipates investing ₹12,000-15,000 crore in pumped storage capacity, contingent on DPR outcomes and tariff viability. "Pumped storage is critical for long-duration storage-10 plus hours-which batteries alone cannot economically provide," Thakur explained, emphasizing the synergy with their planned battery storage expansion.
Digitalization and In-House Capabilities
Complementing its infrastructure plans, HREPL is investing in digitalization, encompassing asset monitoring, predictive analytics, and energy modelling. The company is also strengthening its in-house engineering, procurement, and construction (EPC), and operations and maintenance (O&M) capabilities to ensure quality, timely execution, and cost control. This integrated approach aims to provide comprehensive energy solutions across the spectrum of storage durations.