May 16 (Reuters) - ReNew Energy Global ( RNW ), said on

Friday it will invest 220 billion rupees ($2.57 billion) to set

up a hybrid renewable energy project in the eastern Indian state

of Andhra Pradesh, as it looks to cash in on the country's

booming clean energy needs.

The company said the project will add 2.8 gigawatts (GW)

total energy -- 1.8 GW solar and 1 GW wind -- and will be able

to supply power for up to four hours a day in peak hours.

ReNew Energy, the biggest renewable energy firm in India

after Adani Green, has projects across ten Indian

states, with a total global portfolio of 17.4 GW as of February

14.

India has been scrambling to meet its clean energy targets

after falling short in 2022.

Over the past year, the country has ramped up investments in

the sector, but it still needs to double capacity additions over

the next five years to meet its target of 500 GW non-fossil

power capacity by 2030, a Global Energy Monitor report showed.

($1 = 85.5870 Indian rupees)