ReNew and Microsoft Ink Major 437.6 MW Clean Power Deal

ReNew announced a significant clean power contract with Microsoft for 437.6 MW, expected to generate over one million units of green electricity annually. Revenue from the deal will fund environment-focused community initiatives, aligning with Microsoft's goal to be carbon negative by 2030.

ReNew on Tuesday announced a landmark clean power sale contract of 437.6 megawatts (MW) with tech giant Microsoft.

The agreement is projected to generate over one million units of green electricity annually, aiding Microsoft's ambitious goal to become carbon negative by 2030, according to ReNew's statement.

From the contract, ReNew will channel approximately USD 15 million into a community fund aimed at supporting environmental initiatives. These efforts will be in collaboration with the ReNew Foundation, dedicated to creating sustainable communities through climate action, particularly focusing on women and youth. This initiative aligns closely with Microsoft's Environmental Justice priorities.

Puneet Chandok, President of Microsoft India & South Asia, remarked, ''This agreement with ReNew propels us closer to our sustainability goals while also benefiting local communities through projects such as rural electrification and women's livelihood improvement programs.'' Sumant Sinha, Founder-Chairman and CEO of ReNew, added, ''This agreement furthers our commitment to the communities we serve and addresses various socio-economic challenges related to climate change.''

(With inputs from agencies.)