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ReNew, Microsoft Seal 437.6 MW Green Energy Deal for Carbon Goals
POWER & RENEWABLE ENERGY

ReNew, Microsoft Seal 437.6 MW Green Energy Deal for Carbon Goals

28 Aug 2024 2 Min Read CW Team
In a significant advancement for India's renewable energy sector, ReNew signed a green attribute sale contract of 437.6 MW with Microsoft, aiming to generate over one million units of green electricity attributes annually. This strategic partnership highlights Microsoft's goal to achieve carbon negativity by 2030 and strengthens ReNew's dedication to promoting global decarbonisation efforts.

The agreement includes allocating approximately $15 million from the contract's revenue to a community fund. This fund will support environmental justice projects focusing on women?s livelihoods, energy access, rural electrification, and water quality improvement, especially in communities most affected by pollution and climate change. These initiatives will be carried out in collaboration with the ReNew Foundation, which is committed to fostering sustainable communities through targeted climate action.

Puneet Chandok, President of Microsoft India & South Asia, highlighted the dual benefits of the agreement, stating that Microsoft has set ambitious goals for renewable energy and decarbonisation. He noted that this agreement with ReNew not only accelerates Microsoft's progress toward these goals but also benefits local communities through projects such as rural electrification and efforts to improve women?s livelihoods. Chandok emphasized that Microsoft is taking a holistic approach by advancing its climate objectives while equipping the ecosystem with necessary technology to build a more resilient future.

In a significant advancement for India's renewable energy sector, ReNew signed a green attribute sale contract of 437.6 MW with Microsoft, aiming to generate over one million units of green electricity attributes annually. This strategic partnership highlights Microsoft's goal to achieve carbon negativity by 2030 and strengthens ReNew's dedication to promoting global decarbonisation efforts. The agreement includes allocating approximately $15 million from the contract's revenue to a community fund. This fund will support environmental justice projects focusing on women?s livelihoods, energy access, rural electrification, and water quality improvement, especially in communities most affected by pollution and climate change. These initiatives will be carried out in collaboration with the ReNew Foundation, which is committed to fostering sustainable communities through targeted climate action. Puneet Chandok, President of Microsoft India & South Asia, highlighted the dual benefits of the agreement, stating that Microsoft has set ambitious goals for renewable energy and decarbonisation. He noted that this agreement with ReNew not only accelerates Microsoft's progress toward these goals but also benefits local communities through projects such as rural electrification and efforts to improve women?s livelihoods. Chandok emphasized that Microsoft is taking a holistic approach by advancing its climate objectives while equipping the ecosystem with necessary technology to build a more resilient future.

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