Indian company REnergy Dynamics (RED) unveiled its venture into renewable energy, aiming for a Rs 5,000 crore ($675M) order book by 2029.
REnergy Dynamics (RED), a company aimed at advancing renewable energy, announced its entry into the sector last week. This new venture has ambitious goals, according to their statement. By 2029, REnergy Dynamics aims to secure orders worth Rs 5,000 crore, equivalent to $675M. The company already has Rs 575 crore worth of projects confirmed and in various stages of execution.
The Noida-based organisation, co-founded by Kushagra Nandan (a serial clean-tech entrepreneur and former MD of SunSource Energy) and Varun Karad (a bioenergy entrepreneur), focuses on developing sustainable energy projects. RED highlighted four main focus areas in their venture: large-scale bioenergy projects, Engineering, Procurement, and Construction (EPC) services for renewable energy developers, feedstock aggregation for Compressed biogas (CBG) projects, and manufacturing biogas plant components.
The company currently has ongoing self-owned bioenergy projects,some of which are under construction in South and West India. These projects have a combined capacity of 50 Tons Per Day (TPD) of Compressed biogas (CBG), with several others in the planning stages.
Additionally, RED is overseeing the execution of three large-scale EPC projects to establish CBG units, totaling 67 TPD capacity for Reliance Industries Limited. Two of these projects are being constructed in West India, while the third is located in North India. The company has also secured orders to supply biomass for bioenergy projects in multiple Indian states.
Kushagra Nandan, the Chairman and Managing Director, told The Print that RED aims to aid planet preservation and support India’s goal to achieve net zero status by 2070. He’s proud to launch a bioenergy portfolio, addressing renewable energy needs and promoting the circular economy by repurposing organic waste. Varun Karad, the CEO, stated that they offer scalable renewable energy solutions tailored to various industries, aiming to inspire others to join the movement towards a greener world.
With a focus on environmental responsibility and technological expertise, supported by leaders in integrated bioenergy projects, RED offers a range of solutions in the renewable energy sector. The company has made a notable presence already in Maharashtra, Uttar Pradesh, Telangana, and Haryana with various projects.
