ReNew announced on Tuesday a clean power sale contract with Microsoft for 437.6 megawatts. The agreement is anticipated to produce over 1 million units of green electricity annually, aiding Microsoft in its goal to achieve carbon negativity by 2030.
ReNew stated that approximately $15 million from the contract revenue will be allocated to a community fund dedicated to supporting environmental 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.
"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," Puneet Chandok, president of Microsoft India & South Asia, 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," Sumant Sinha, chief executive officer of ReNew, said.
(With Inputs From PTI)
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