ReNew, Microsoft sign 437.6-MW clean power sale agreement

ReNew on Tuesday announced the signing of a clean power sale contract of 437.6 megawatts (MW) with Microsoft. The contract is expected to generate over one million units of green electricity attributes annually, contributing to Microsoft's aim to become carbon negative by 2030, ReNew said in a statement."ReNew today announced the signing of a green attribute sale contract of 437.6 MW with Microsoft," it said.

ReNew will direct about USD 15 million of revenue from the contract towards a community fund to support environment-focused initiatives. This work will be delivered in partnership with the ReNew Foundation, the philanthropic arm of ReNew, which works to create sustainable communities through climate action with a focus on women and youth and whose efforts are aligned with Microsoft's Environmental Justice priorities.

Puneet Chandok, President, of Microsoft India & South Asia, said, "This agreement with ReNew accelerates our progress towards these goals while benefiting local communities through initiatives such as rural electrification and initiatives to improve women's livelihoods." Sumant Sinha, Founder-Chairman, and Chief Executive Officer of ReNew, said, "This agreement will help us fulfil our commitment to the communities we operate amidst and address some of the socio-economic aspects related to climate change."