India’s leading renewable energy IPP, ReNew Power, has announced its committment to achieve net zero greenhouse gas emissions by 2050. The company’s latest announcement aligns with the ‘Race To Zero’ campaign which is a global alliance committed to achieving net zero carbon emissions through leadership and support from businesses, investors as well as cities and regions. Representing 471 cities, 23 regions, 1,675 businesses, 85 investors, and 569 universities it aims for a zero-carbon future and inclusive sustainable growth and mobilizes a coalition of leading net zero initiatives.
Speaking about the campaign, Mr. Sumant Sinha, Founder, Chairman and Chief Executive Officer of ReNew Power, said, “As one of India’s leading renewable energy companies, ReNew Power is committed to tackling climate change by identifying, assessing and managing climate related risks and opportunities. By extending our support to the “Race to Zero” campaign, we aim to stabilize global emissions by 2050 and create opportunities for low carbon innovations that will drive the transition to a low carbon economy and spur the investment and innovation needed to make the net-zero goal attainable. We endeavor to embed sustainability in the ethos, strategies and practices of our organization, as well as in product design, to secure sustainable economic growth and prosperity for all.”
ReNew Power Private Limited is a leading Indian renewable energy IPP which develops, builds, owns, and operates utility-scale wind, solar and firm power projects as well as distributed solar power projects. The company has a portfolio of 10 GW of operational and under implementation wind and solar energy projects across India as of December 2020. The company’s current group of stockholders contains several marquee investors including Goldman Sachs, CPP Investments, Abu Dhabi Investment Authority, GEF SACEF and JERA. ReNew Power recently announced a business combination with RMG Acquisition Corporation II. This transaction is expected to occur in the second quarter of 2021 and would result in ReNew becoming a publicly listed company.