ReNew Power, one of India’s leading renewable energy companies, has roped in Hanwha of Korea to co-invest two solar projects in Telangana with a total capacity of 148.8 MW. Hanwha is a Korean solar cells and modules manufacturer that made news in August 2012 when it took over the German company Q.Cells.
“This is the first time that Hanwha Q Cells is investing in a solar project in India,” says a statement from ReNew Power. ReNew Power has said that the Korean company would supply 4.77 lakh solar modules for the two projects in Telangana, in the Medak and Mehbubnagar districts.
Earlier this month, ReNew Power had announced a similar joint venture with the Chinese company, Hareon Solar – also a first time investor in the Indian solar sector –for a 72 MW project in Andhra Pradesh.
ReNew Power, founded by Sumant Sinha, a former Chief Financial Officer of the Aditya Birla group and a former Chief Operating Officer of Suzlon, has 550 MW of wind power assets, 50 MW of solar and 700 MW of wind and solar under construction.