In a significant move for India's renewable energy sector, Microsoft has sealed a major agreement with ReNew to purchase 437.6MW of green attributes, marking one of the largest corporate renewable deals in the country. This deal not only propels Microsoft towards its ambitious decarbonization goals but also injects substantial resources into local communities.
Under this agreement, which remains shrouded in specifics regarding the exact assets involved, Microsoft aims to advance its renewable energy targets while supporting community initiatives such as rural electrification and women's economic empowerment. Puneet Chandok, President of Microsoft India & South Asia, highlighted the dual benefits of this deal — accelerating Microsoft's climate objectives and providing critical support to local communities.
ReNew will invest approximately $15 million of the contract revenue into a community fund focused on environmental justice. This fund will support projects related to women's livelihoods, energy access, rural electrification, environmental remediation, and water quality improvement. Sumant Sinha, Founder, Chairman, and CEO of ReNew, celebrated the agreement as a pivotal step towards achieving carbon neutrality and enhancing socio-economic conditions in the areas where ReNew operates.
Founded in 2011, ReNew — formerly ReNew Power — has a robust portfolio of around 15.6 GW in wind and solar projects and has previously partnered with Microsoft on a 150 MW solar project near Bikaner. The latest deal underscores a continuing partnership aimed at driving significant advancements in renewable energy.
