Hinduja Group Arm Targets 5 GW Renewable Capacity By 2026

Hinduja Renewables Energy Pvt., the green energy arm of Hinduja Group, plans to commission around 5 gigawatts of renewable energy capacity with special focus on solar-wind hybrid and battery storage by 2026.

The company plans to add at least 1 GW of incremental capacity every year for the next three to four years as it expects the competitiveness of renewable power will increase with rise in storage capacities, Sumit Pandey, chief executive officer at Hinduja Renewables, told BQ Prime. “It will make renewable power firm and enhance round-the-clock capabilities.”

The company would be looking at the emerging technologies of floating solar and offshore wind along with hybrid, battery storage and green hydrogen generation. These are some of the technologies already in the market but now need to move into the commercialisation phase, he said.  

According to Pandey, the company has an advantage of a common platform play within the group, where downstream companies can utilise the captive power and storage capacities, he said.  

The electric mobility platform of the Hinduja Group for e-buses and light commercial vehicles would require battery storage and green charging facilities in the near future. “We can provide both the facilities within the group. It will give us the headstart into the renewables space that can then be redirected outside,” Pandey said. 

The company at present has an operational capacity of 270 MW, of which around 100 MW was acquired from Kiran Solar (80 MW) and (20 MW) from Fonroche Energie SAS, a French renewable energy company.

Hinduja Renewables is also evaluating the hydrogen generation segment and is waiting for it to achieve commercial scale.  

According to Pandey, it would be appropriate to venture into hydrogen production over the next three-to-four years as prices drop from the current highs. There are very few buyers for green hydrogen at $5 a tonne. 

“We are in dialogue with companies operating in hard-to-abate sectors such as fertilisers, steel and cement in accordance with the government’s evolving green Hydrogen policy framework,” he said.

“We expect the prices of green hydrogen to drop to $1 per tonne in the next three to four years with the advancement in technology, and as large groups across sectors take steps to meet the global emissions norms.” 

There are three parts to the entire hydrogen value chain—generation (RE plus electrolyser), storage, and transmission and the group would wish to be present in the entire value chain, he said. 

Hinduja Renewables will focus on green hydrogen generation, Pandey said. “In line with our philosophy of ‘partnership for growth’, the company is exploring strategic partnerships in the space,” Pandey said.