Kundan Green Energy to invest ₹1000 Crore in renewable projects by 2028

October 6, 2024

New Delhi: Kundan Green Energy has committed a substantial ₹1000 crore investment to expand its renewable energy portfolio by 2028, aligning with India’s ambitious target to generate 500 GW of renewable energy. The company plans to invest ₹13-15 crore per megawatt in new projects, enhancing the national energy infrastructure to meet future demands.

In an interview with ET EnergyWorld, Udit Garg, CEO and Director, Kundan Green Energy, underscored the expansion’s strategic role in the company’s growth and its contribution to India’s green energy transition. “This expansion is crucial for boosting our renewable energy production capabilities and significantly aiding India’s transition to a sustainable energy future,” said Garg.

The expansion strategy includes the integration of advanced pumped storage systems in upcoming hydropower projects, which are essential for stabilizing the grid and managing the variability of renewable energy. By focusing on technological advancements and infrastructure improvements, Kundan Green Energy aims to enhance energy production efficiency and support India’s commitments under the Paris Agreement.

Furthermore, the company is actively advocating for favorable government policies and incentives to support the hydropower sector and is looking to foster innovation through collaborations with academic and research institutions.