ReNew has signed a green attribute sale contract with Microsoft. The 437.6 MW contract will contribute to making Microsoft carbon-negative by 2030 as it is estimated to generate more than one million units of green electricity annually. This agreement has increased ReNew’s total portfolio to 15.6 GW.
Further, ReNew will contribute $15 million from their revenue to a community fund to support environmental initiatives centering on women’s livelihoods and economic empowerment, energy access, rural electrification, environmental remediation and water quality improvement. It will also look into concerns of communities disproportionately affected by pollution and climate change. This is a part of the agreed contract and will be done in collaboration with ReNew Foundation, ReNew’s philanthropic arm.
In July 2024, ReNew had inaugurated a 400 MW solar project in Rajasthan as a part of a 600 MW solar project that has a power purchase agreement (PPA) with the Solar Energy Corporation of India Limited (SECI). In May 2024, they obtained $1 billion in debt funding from Societe Generale, a European bank, to assist in the progression of its array of strategic energy transition initiatives, both domestically in India and on a global scale.
