ReNew and Microsoft ink 437.6-MW clean energy agreement

30 Aug 2024 CW Team

ReNew announced the signing of a 437.6 megawatt (MW) clean power sale agreement with Microsoft. This deal is projected to generate over one million units of green electricity annually, furthering Microsoft?s goal to become carbon negative by 2030, according to a statement by ReNew.

Under the terms of the agreement, ReNew will allocate approximately $ 15 million of revenue from the contract to a community fund that will support environmental initiatives. These efforts will be executed in collaboration with the ReNew Foundation, the philanthropic arm of ReNew, which focuses on creating sustainable communities through climate action, particularly targeting women and youth. This aligns with Microsoft's Environmental Justice priorities.

Puneet Chandok, President, Microsoft India & South Asia, emphasized the broader impact of the partnership, stating, "This agreement with ReNew accelerates our progress towards our sustainability goals while also benefiting local communities through initiatives like rural electrification and improving women's livelihoods."

Sumant Sinha, Founder-Chairman and CEO, ReNew, added, "This agreement not only helps us meet our commitments to the communities we serve but also addresses key socio-economic challenges related to climate change." (TOI)

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