From pv journal India
ReNew, a Nasdaq-listed renewables firm in India, signed a 437.6 MW inexperienced attribute gross sales contract with Microsoft.
This is among the largest company renewable agreements in India and is a part of 5 energy buy agreements (PPAs), amounting to 2.2 GW, signed by ReNew within the three months to June 30, 2024, elevating the full its portfolio to fifteen.6 GW.
ReNew will allocate roughly $15 million from the contract to a group fund that helps environmental justice initiatives targeted on ladies’s livelihoods, financial empowerment, power entry, rural electrification , environmental restoration, and water high quality enchancment.
This work will likely be executed in partnership with the ReNew Foundation, the corporate’s philanthropic arm devoted to creating sustainable communities by means of local weather motion, with a give attention to ladies and youth.
“Microsoft has bold renewable power and decarbonization objectives. This settlement with ReNew accelerates our progress towards these objectives whereas benefiting native communities by means of initiatives comparable to rural electrification and initiatives to enhance ladies’s livelihoods,” mentioned Puneet Chandok, president of Microsoft India and South Asia. “We are taking a holistic strategy that features advancing our local weather objectives and empowering the ecosystem of the expertise wanted to construct a extra sustainable future.”
ReNew Chairman and CEO Sumant Sinha mentioned this milestone is important in ReNew’s efforts to help international decarbonization objectives for governments and companies. He added that as a sustainability-focused group, ReNew prioritizes power transition as a part of its mission to create a greater world.
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