15 May 2024
ReNew
New Delhi, India, 15th May 2024: ReNew, India’s leading renewable energy
company (NASDAQ: RNW), today announced that it has signed a Memorandum of
Understanding (MoU) with Societe Generale, to support the financing and
development of the Company’s various strategic energy transition projects both
in India and globally.
Under the MoU, which references up to
USD 1 billion of support over the next three years, primarily including debt
financing and advisory solutions, both parties will leverage their respective
expertise to strengthen the collaboration on utility-scale energy projects
including solar, wind, complex renewables, green hydrogen, energy storage and
solar modules manufacturing.
Sumant Sinha, Founder, Chairperson and Chief Executive Officer of
ReNew said: “This MoU represents a key milestone
towards our ambitions in India and worldwide. Societe Generale is a trusted
partner for accelerated deployment of renewable energy projects, and this
collaboration will contribute towards India’s net zero goals.”
Dr. Katan Hirachand, Chief Executive and Chief Country Officer of
Societe Generale India said: “ReNew’s commitment to the energy transition in India and beyond
aligns with Societe Generale’s focus on supporting our clients’ sustainability
journey, in line with our Group’s ambition. This MoU marks an important step in
our collaboration with ReNew – we look forward to supporting their significant
growth ambitions and driving the deployment of green energy in the market.”
About ReNew:
ReNew is a leading decarbonization
solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy
portfolio of ~15.6 GW on a gross basis as of May 09, 2024, is one of the
largest globally. In addition to being a major independent power producer in
India, we provide 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 Societe Generale:
Societe Generale is a leading European
bank with more than 126,000 employees serving around 25 million customers in 65
countries around the world. We have been supporting the development of our
economies for 160 years, offering our corporate, institutional and retail
clients a wide range of advisory services and value-added financial solutions.
Our long-lasting and trusting relationships with clients, our cutting-edge
expertise, our unique capacity for innovation, our ESG competencies and our
leading franchises are part of our DNA and serve the core of our purpose: to
create sustainable value for all our stakeholders. For more information, please
visit www.societegenerale.asia
Press Enquiries
ReNew| Shilpa Narani| shilpa.narani@renew.com
Societe Generale| Brenda Chai| +65
6326 7028 | brenda.chai@socgen.com
Investor Enquiries
ReNew | Nathan Judge, Nitin Vaid | ir@renew.com
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