ReNew Signs $1 Billion Financing Pact with Societe Generale
POWER & RENEWABLE ENERGY

ReNew Signs $1 Billion Financing Pact with Societe Generale

Leading energy firm ReNew announced on Wednesday that it has entered into an initial agreement with European bank Societe Generale, securing up to USD 1 billion in financing over the next three years. This strategic partnership, formalized through a Memorandum of Understanding (MoU), aims to bolster ReNew?s various energy transition projects in India and internationally.

According to the company's statement, the collaboration will leverage the strengths of both parties to support the development of large-scale energy projects. These include solar and wind energy, complex renewable solutions, green hydrogen initiatives, energy storage systems, and solar module manufacturing.

Sumant Sinha, ReNew's Chairperson and CEO, remarked, "This MoU represents a key milestone towards our ambitions in India and worldwide. Societe Generale is a trusted partner for the accelerated deployment of renewable energy projects, and this collaboration will contribute towards India's net zero goals."

As of May 9, 2024, ReNew boasts a clean energy portfolio totaling 15.6 GW. The company is a prominent independent power producer in India, offering comprehensive solutions in clean energy and value-added services through digitalization, energy storage, and carbon market strategies, all of which play a crucial role in combating climate change.

This partnership marks a significant step in ReNew?s mission to provide sustainable and inclusive energy solutions while reinforcing India's commitment to achieving its environmental targets.

Leading energy firm ReNew announced on Wednesday that it has entered into an initial agreement with European bank Societe Generale, securing up to USD 1 billion in financing over the next three years. This strategic partnership, formalized through a Memorandum of Understanding (MoU), aims to bolster ReNew?s various energy transition projects in India and internationally. According to the company's statement, the collaboration will leverage the strengths of both parties to support the development of large-scale energy projects. These include solar and wind energy, complex renewable solutions, green hydrogen initiatives, energy storage systems, and solar module manufacturing. Sumant Sinha, ReNew's Chairperson and CEO, remarked, This MoU represents a key milestone towards our ambitions in India and worldwide. Societe Generale is a trusted partner for the accelerated deployment of renewable energy projects, and this collaboration will contribute towards India's net zero goals. As of May 9, 2024, ReNew boasts a clean energy portfolio totaling 15.6 GW. The company is a prominent independent power producer in India, offering comprehensive solutions in clean energy and value-added services through digitalization, energy storage, and carbon market strategies, all of which play a crucial role in combating climate change. This partnership marks a significant step in ReNew?s mission to provide sustainable and inclusive energy solutions while reinforcing India's commitment to achieving its environmental targets.

Next Story
Infrastructure Energy

Powering the Future

Uninterrupted power supply is vital for modern living and, in urban settings, infrastructure is increasingly energy-sensitive. So, generator sets (gensets), a backbone of power continuity, are essential to ensure that human activity continues during grid outages or load-intensive phases of construction. However, TV Ganesh, Executive Director - Technical, Shriram Properties, recommends viewing genset technology not in isolation but as part of a broader ecosystem of intelligent, sustainable infrastructure...To read the full article Click Here ..

Next Story
Infrastructure Urban

Where Sports Meets Structure

Dalmia Bharat’s shuttlecock-shaped badminton centre in Bhubaneswar is a bold leap in sports infrastructure – symbolic in form, global in ambition and sustainable by design. A collaboration with the Odisha government and Gopichand Academy, it reflects India’s evolving sporting vision.Building more than an academy At the heart of ‘Shuttle by Dalmia Bharat’ lies a powerful vision, one that sees infrastructure not merely as physical structures but catalysts for national progress. “With this project, the intent was to build more than a badminton academy,” says Puneet Dalmia,..

Next Story
Building Material

Protective coatings have powered our double-digit growth

With a stronghold in the decorative segment, Berger Paints India is equally focused on scaling its industrial coatings business – an essential pillar driving its long-term growth and diversification strategy. In conversation with CW, Sanjay Chowdhury, Vice President and Business Head, Berger Paints India, shares how the division is innovating across infrastructure sectors, enhancing sustainability and positioning itself as a solution-driven partner for high-performance, large-scale projects.How does Berger’s Protective Coatings, an industrial coatings division, contribute to over..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?