ReNew, Microsoft sign 437.6-MW clean power sale agreement

New Delhi: ReNew announced on Tuesday the signing of a clean power sale contract with Microsoft, involving the supply of 437.6 megawatts (MW) of renewable energy. This landmark agreement is set to significantly contribute to Microsoft's ambitious goal of becoming carbon negative by 2030.

According to a statement released by ReNew, the contract is expected to generate over one million units of green electricity attributes annually. These attributes will play a crucial role in advancing Microsoft's sustainability objectives, particularly in reducing its carbon footprint.

ReNew also revealed plans to allocate approximately USD 15 million of the revenue generated from this contract to a community fund dedicated to supporting environmental initiatives. This initiative will be executed in collaboration with the ReNew Foundation, the philanthropic wing of ReNew, which focuses on creating sustainable communities through climate action. The foundation’s efforts, which emphasize the empowerment of women and youth, are in alignment with Microsoft's Environmental Justice priorities.

Puneet Chandok, President of Microsoft India & South Asia, commented on the partnership, stating, "This agreement with ReNew accelerates our progress towards these goals while benefiting local communities through initiatives such as rural electrification and efforts to improve women's livelihoods."

Sumant Sinha, Founder-Chairman and Chief Executive Officer of ReNew, also highlighted the broader impact of the agreement, noting, "This agreement will help us fulfill our commitment to the communities we operate in and address some of the socio-economic aspects related to climate change."

This collaboration marks a significant step forward for both companies, as they continue to lead the charge in sustainable development and climate action. ReNew's focus on community-centric initiatives, coupled with Microsoft's dedication to environmental justice, exemplifies how corporate partnerships can drive meaningful change at both local and global levels.