ReNew Energy Global Plc (RNW) announced a significant partnership with Microsoft Corporation (MSFT) on Tuesday, signing a green attribute sale contract worth 437.6 MW. This collaboration will support Microsoft’s ambitious goal of achieving carbon negativity by 2030.
The agreement signifies a major step towards a sustainable future, with ReNew supplying green electricity attributes that will generate over one million units annually. As part of the agreement, ReNew will allocate $15 million from the contract’s revenue to a dedicated community fund focused on environmental justice initiatives. This fund will address a range of critical issues, including:
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Empowering Women:
Enhancing women’s livelihoods and economic empowerment in communities impacted by climate change.*
Energy Access:
Improving energy access and promoting rural electrification in underserved areas.*
Environmental Remediation:
Advancing environmental remediation and water quality to mitigate pollution and its effects.This initiative will be spearheaded by the ReNew Foundation, ReNew’s philanthropic arm, in collaboration with Microsoft. The Foundation focuses on creating sustainable communities through climate action, prioritizing women and youth. This alignment with Microsoft’s Environmental Justice priorities underscores a shared commitment to creating positive social impact.
Puneet Chandok, President of Microsoft India & South Asia, emphasized the importance of this partnership, stating, “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 CEO of ReNew, echoed this sentiment, stating, “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.”
The partnership between ReNew and Microsoft serves as a powerful example of how corporations can work together to achieve environmental sustainability while simultaneously addressing social inequities. This collaboration represents a significant step forward in creating a cleaner and more equitable future.
