Articles from ReNew

TIME has recognised Sumant Sinha, Founder, Chairman and CEO of ReNew, India’s leading renewable energy company (NASDAQRNW) for his role in progressing India’s clean energy transition and contributing to the global shift to a low-carbon economy.

ReNew, India’s leading renewable energy company (NASDAQRNW), has today announced the signing of a green attribute sale contract of 437.6 MW with Microsoft. This contract is expected to generate over one million units of green electricity attributes annually, contributing to Microsoft’s ambition to be carbon-negative by 2030.

Mr. Sumant Sinha, Chairman and CEO of ReNew, has been named Co-Chair of the Alliance of CEO Climate Leaders, the largest CEO-led climate alliance in the world, and a flagship initiative of the World Economic Forum. Sinha joins a group of influential leaders from top global companies - Ester Baiget, CEO of Novonesis; Jesper Brodin, CEO of Ingka Group Ikea; Feike Sybesma, Chairman of the Supervisory Board of Royal Philips; and Rich Lesser, Global Chair of BCG and Alliance Chief Advisor. Together, they will work closely with a cohort of 130-member CEOs across 12 Industries on driving strategic priorities of the Alliance. Collectively, this group represents $4 Trillion in revenues and 5.2 GT of carbon emissions, equivalent to 10 percent of global emissions across all scopes.

ReNew, India’s leading renewable energy company (NASDAQRNW), today announced that it has signed a Memorandum of Understanding (MoU) with Societe Generale, to support the financing and development of the Company’s various strategic energy transition projects both in India and globally.

ReNew, India’s leading renewable energy company (NASDAQRNW), has announced the signing of five Power Purchase Agreements (PPAs) totaling ~2.2 GW of RE capacity, significantly expanding its fully contracted renewable energy portfolio. ReNew’s overall portfolio now stands at 15.6 GW, consolidating its position as a major player in India's green energy transition. In addition, ReNew has received Letter of Awards for an additional ~5.8 GW of RE capacity.

ReNew (the “Company”), among the largest clean energy companies globally, announced on Wednesday that it has completed construction of 1.94 GW of RE assets in FY24, taking the cumulative capacity set up by the company to over 10 GW. Accounting for assets sold, the Company’s revenue generating capacity stands at 9.52 GW as on March 31, 2024. The Company added 1,174 MW of solar and 768 MW of wind energy during FY24. This is one of the highest ever capacity additions of wind energy among all companies in India, in a single year.

ReNew (“ReNew”) (NASDAQ: RNW, RNWWW), India’s leading decarbonization solutions company, announced on Monday that it has signed a Share Purchase Agreement with India Grid Trust to sell a 300 MW solar project in Rajasthan – ReNew Solar Urja Private Limited – for a total enterprise value of $199 million. The transaction is expected to close in accordance with PPA conditions. Approximately $8 million is expected to be additionally received as an earn-out on account of change-in-law proceeds, after the first payment is realized by RSUPL.

ReNew (“ReNew”, RNW, RNWWW: NASDAQ), India’s leading decarbonization solutions company, has commissioned its first interstate transmission project, the “Koppal Transmission Scheme”. The project was executed in a compressed time schedule and will help in transmission of 1,500 MW of renewable energy in the Koppal Area of Karnataka. The Koppal Transmission Scheme was awarded in FY 22 and covers construction of a new 400/220 kV Sub-station at Koppal along with 276 Ckt Km of 400 kV D/C quad moose transmission line with extension of the 400 kV GIS Bays at the PGCIL Narendra (New) Substation. Following the commissioning of the 1,500 MW Koppal Transmission Scheme, the remaining transmission for 3,500 MW is expected to be completed by June 2024.