ReNew’s and Gentari’s RE capacity collaboration
ReNew Energy Global Plc and Gentari to collaborate on an equal joint venture in clean energy solutions.
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India, Gurugram: ReNew Energy Global Plc and Gentari to collaborate on an equal joint venture in clean energy solutions.
The agreement on the clean energy joint venture between ReNew Energy Global Plc and Gentari was reached through the companies’ subsidiaries — ReNew Power Pvt Ltd (ReNew) and Gentari Renewables India Pte Ltd, respectively.
As part of this joint venture, Gentari and ReNew will collaborate on exploring investments into the development of renewable assets, including solar, wind and energy storage, to achieve a target of 5 GW in renewable energy capacity. The collaboration between the parties follows Gentari’s initial investment for a 49 % equity stake in ReNew’s 403 MW peak power project in May 2023.
As partners, Gentari and ReNew can accelerate their decarbonisation objectives, enabling Gentari to make substantial progress in expanding its renewable energy portfolio and achieving its global ambition to build over 30 GW in renewable energy capacity by 2030.
“We are elated to embark on this strategic collaboration with ReNew, as it holds tremendous potential for accelerating the development of renewable assets in India. With our aligned vision and extensive expertise, we aim to drive rapid progress in expanding India’s renewable energy capacity and fostering sustainable growth,” said Sushil Purohit, Chief Executive Officer of Gentari.
Sumant Sinha, Founder, Chairman and CEO of ReNew said, “We are delighted to welcome Gentari as a strategic partner in our goal of accelerating the clean energy transition. This partnership will be crucial in developing innovative solutions which will contribute significantly to India’s 2030 goal of achieving 500 GW of installed renewable energy capacity.”
Source: T&D India
#decarbonisation#Gentari#joint venture#ReNew Energy Global#renewable energy