ReNew recognised in Top 15 Climate Tech Companies to Watch

Rhea-AI Summary

ReNew recognized as a top climate tech company by MIT Technology Review.

Positive

• ReNew is one of the only two renewable energy companies globally to be included in MIT Technology Review's Top 15 Climate Tech Companies to Watch list.
• ReNew's wind and solar projects account for about 5% of India's installed capacity of renewables, which stood at 172 gigawatts as of August 2023.
• ReNew is scaling up India's renewable energy capacity, building energy storage infrastructure, and entering the green hydrogen space.
• The company has announced new transmission projects in Karnataka and Rajasthan to augment the national clean energy capacity.
• ReNew is partnering with global corporates to decarbonize their operations and working with governments to scale up green hydrogen capacity.

Negative

• None.

GURUGRAM, India--(BUSINESS WIRE)-- India’s largest renewables company, ReNew has been recognised in MIT Technology Review’s Top 15 Climate Tech Companies to Watch. The list spotlights global leaders and innovative startups that have the greatest potential to reduce greenhouse-gas emissions and address the threats of global warming. ReNew is one of the only two renewable energy companies globally to be included in this prestigious list.

ReNew is playing a critical role in India’s energy transition by scaling up the nation’s renewable energy capacity, building energy storage infrastructure, and entering the green hydrogen space. ReNew’s wind and solar projects are helping India get closer to its decarbonization targets, accounting for about 5% of the country’s installed capacity of renewables, which stood at 172 gigawatts as of August 2023.

A pioneer in round-the-clock power, ReNew has set many a milestone in accelerating India’s transition to energy and advancing emerging sectors such as green hydrogen and battery energy storage. The company recently announced new transmission projects in Karnataka and Rajasthan that will help augment the national clean energy capacity. It has also partnered with leading global corporates to decarbonize their operations and help them achieve their net-zero goals. In addition, ReNew is working with various governments, such as that of Egypt’s, to scale up green hydrogen capacity.

Further, the company is using tech capabilities to conserve water in arid regions of the country and deploying robots in place of water to clean solar panels. It is also training local populations in some of India’s remotest corners through digital labs and access to electricity, so they are included in the workforce as we transition to renewable energy from fossil fuels. Under its Project Surya, ReNew is training hundreds of female salt pan workers in Gujarat’s Rann of Kutch marshes to become solar technicians and have a better standard of life.

Sumant Sinha, Founder, Chairman and CEO, said, “We’re thrilled to have been listed in the Top 15 Climate Tech Companies to Watch. ReNew is constantly striving to set new benchmarks on all fronts, especially in addressing climate change. This recognition is a testament to our endeavours to provide the best services to our stakeholders while also moving the needle in the corporate sustainability space.”

About ReNew

ReNew is India’s leading decarbonisation 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 digitalisation, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231010230713/en/

Press Enquiries

ReNew | Shilpa Narani | shilpa.narani@renew.com

Investor Enquiries

ReNew | Nathan Judge, Nitin Vaid | ir@renew.com

Source: ReNew Energy Global Plc

FAQ

What is ReNew recognized for?

ReNew has been recognized as one of the top climate tech companies by MIT Technology Review.

How much of India's renewable energy capacity does ReNew account for?

ReNew's wind and solar projects account for about 5% of India's installed capacity of renewables.

What are some of ReNew's initiatives?

ReNew is scaling up India's renewable energy capacity, building energy storage infrastructure, and entering the green hydrogen space. The company is also partnering with global corporates to decarbonize their operations and working with governments to scale up green hydrogen capacity.

What are ReNew's recent projects?

ReNew has announced new transmission projects in Karnataka and Rajasthan to augment the national clean energy capacity.