Indian renewable energy company ReNew has signed a green attribute sale contract of 437.6 megawatts with Microsoft. This contract is expected to generate more than 1 million units of green electricity attributes annually, contributing to Microsoft’s ambition to be carbon-negative by 2030.
As part of the agreement, ReNew will direct $15 million of revenue from the contract toward a community fund to support environmental justice initiatives focusing on women’s livelihoods and economic empowerment, energy access, rural electrification, environmental remediation and water quality improvement, and other concerns of communities disproportionately impacted by pollution and climate change. This will be delivered in partnership with ReNew Foundation, the philanthropic arm of ReNew.
“This is a significant milestone in ReNew’s journey to support the global decarbonization goals of governments and corporates,” said Sumant Sinha, founder, chairman and CEO of ReNew. “We