ReNew Announces Clinton Global Initiative Commitment to Business-Driven Clean Energy and Education in India
18 Setembro 2023 - 4:00PM
Business Wire
Commitment aims to boost clean energy
production outputs; create behavior change in youth
ReNew Energy Global Plc (“ReNew”) (Nasdaq: RNW, RNWWW), India's
leading decarbonization solutions company, has announced the launch
of its Clinton Global Initiative (CGI) Commitment to Action by
tackling two of the toughest barriers to the renewable energy
transition — clean energy production and youth education. This news
was shared at the CGI 2023 Meeting in New York.
As India transitions to renewable energy, it grapples with the
issue of increasing base load capacity through use of renewable
energy resources. Currently, the average wind or solar plant in
India generates no more than 25-30 percent of its potential energy
output annually. In response to this challenge, ReNew is setting up
India’s first Round-The-Clock (RTC) project, capable of providing
uninterrupted power to the energy grid. Energy storage solutions
will be incorporated into the project, boosting the annual energy
generation 80 percent.
ReNew, through its philanthropic arm ReNew Foundation, will also
engage with middle school-age students in clean energy education
and awareness through ReNew’s Young Climate Leaders Course. Because
middle school is when many students begin to understand the science
behind clean energy technologies. The initiative will focus on
educating these students through a variety of efforts that empower
and inspire them to lead a lifestyle for a positive
environment.
“The clean energy transition in India is underway and the
country has made great progress in working toward its net-zero
targets,” said ReNew’s Co-founder and Chairperson Sustainability,
Vaishali N Sinha. “This Commitment to Action highlights ReNew’s
increased focus on driving climate action through investment in
both the business and education of renewable energy. By investing
in these areas, we will not only accelerate the country’s
transition to clean energy but empower the next generation to
create a sustainable lifestyle.”
ReNew will invest more than $1 billion into the RTC projects
that are currently under construction in four locations across
three states in India. These projects will be completed in 2024. As
part of its commitment, ReNew will secure a supply of 400 Mw for
household consumption as well as for Indian railways. Additionally,
over the next two years, ReNew will roll out a phased approach to
climate advocacy and education, modeled on core principles of Prime
Minister Modi’s call for ‘LiFE’ (i.e. Lifestyle for Environment).
This program will include a baseline assessment of current
knowledge, executing climate-focused activities such as sanitation
drives in villages, developing smart classrooms and digital labs,
and instituting a third-party-based behavior change study. It will
focus on 200 schools in select states in India with a potential
impact of 10,000 students.
About ReNew
ReNew is India’s leading decarbonization solutions company
listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy
portfolio of approximately 13.7GW on a gross basis as of June 30,
2023, is one of the largest globally. In addition to being a major
independent power producer in India, ReNew provides end-to-end
solutions in a just and inclusive manner in the areas of clean
energy, value-added energy offerings through digitalization,
storage, and carbon markets that increasingly are integral to
addressing climate change. For more information, visit renew.com
and follow us on LinkedIn, Facebook, Twitter and Instagram.
About the Clinton Global Initiative (CGI)
Founded by President Bill Clinton in 2005, the Clinton Global
Initiative is a community of doers representing a broad cross
section of society and dedicated to the idea that we can accomplish
more together than we can apart. Through CGI’s unique model, more
than 9,000 organizations have launched more than 3,900 Commitments
to Action — new, specific, and measurable projects and
programs.
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version on businesswire.com: https://www.businesswire.com/news/home/20230918821449/en/
ReNew Press Enquiries Anu Bararia | anu@renew.com Shilpa
Narani | Shilpa.narani@renew.com
Investor Enquiries ReNew | Nathan Judge, Nitin Vaid |
ir@renew.com
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