From pv magazine India
ReNew, a Nasdaq-listed renewables company in India, has signed a 437.6 MW green attribute sales contract with Microsoft.
This is one of India’s largest corporate renewable agreements and part of five power purchase agreements (PPAs), totaling 2.2 GW, that ReNew signed in the three months to June 30, 2024, raising its total portfolio to 15.6 GW.
ReNew will allocate approximately $15 million from the contract to a community fund supporting environmental justice initiatives focused on women’s livelihoods, economic empowerment, energy access, rural electrification, environmental remediation, and water quality improvement.
This work will be carried out in partnership with ReNew Foundation, the company’s philanthropic arm dedicated to creating sustainable communities through climate action, with a focus on women and youth.
“Microsoft has ambitious renewable energy and decarbonization goals. This agreement with ReNew accelerates our progress towards these goals while benefiting local communities through initiatives such as rural electrification and initiatives to improve women’s livelihoods,” said Puneet Chandok, president of Microsoft India and South Asia. “We are taking a holistic approach that includes progressing our climate goals and empowering the ecosystem with the technology that is needed to build a more resilient future.”
ReNew Chairman and CEO Sumant Sinha said that this milestone is crucial in ReNew’s efforts to support global decarbonization goals for governments and businesses. He added that as a sustainability-focused organization, ReNew prioritizes the energy transition as part of its mission to create a better world.
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