ReNew Power signs 150 MW Agreement with Microsoft

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Dec 16, 2022, 07:00 ET

GURUGRAM, India, Dec. 16, 2022 /PRNewswire/ -- ReNew Power ("ReNew" or "the Company") (NASDAQ: RNW) (NASDAQ: RNWWW), India's leading renewable energy company, today announced that it has signed a renewable energy agreement of 150 MW with Microsoft India, in one of the largest such deals in the country.

As part of the arrangement, ReNew will produce 150 MW of clean energy from a recently commissioned solar site near Bikaner. This deal signifies that corporates globally, including India, are increasingly integrating renewable energy into their operations in every form, and this partnership further paves the way for innovative models that will accelerate the energy transition.

Speaking on the agreement, Sumant Sinha, Chairman and CEO of ReNew Power said: "ReNew Power is delighted and proud to partner with Microsoft, known for its sensitivity towards environment, sustainable business practices, and as global climate leader in the corporate world. This venture will help contribute towards Microsoft's ambition of shifting to 100 percent supply of renewable energy by 2025. For its part, ReNew is committed to be a catalyst for global energy transition and will continue to offer innovative solutions to companies to support their climate goals."

Commenting on the partnership, Dr Rohini Srivathsa, National Technology Officer, Microsoft India said: "Microsoft is striving to run 100% on renewable energy by 2025 and turn carbon negative by 2030. We are happy to partner with ReNew Power to meet our sustainability targets, and to also help our customers and partners on their sustainability journey."

About ReNew

ReNew is one of the largest renewable energy-independent power producers in India and globally. ReNew develops, builds, owns, and operates wind, solar and hydro projects for the supply of power to utilities, as well as to corporates. As of September 30, 2022, ReNew had a gross total portfolio of ~13.4 GWs of renewable energy projects across India including commissioned and committed projects. For more information, please visit www.renewpower.in and follow us on LinkedIn, Facebook, Twitter and Instagram.

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