Business
ReNew Announces Clinton Global Initiative Commitment to Business-Driven Clean Energy and Education in India
Commitment aims to boost clean energy production outputs; create behavior change in youth NEW YORK--(BUSINESS WIRE)-- ReNew Energy Global Plc (“ReNew”)
About this update from Renew Energy Global Plc
[{"type":"text","content":"\nCommitment aims to boost clean energy production outputs; create behavior change in youth\n\n\n NEW YORK--(BUSINESS WIRE)--\nReNew 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.\n\n\nAs 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.\n\n\nReNew, 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.\n\n\n“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.”\n\n\nReNew 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...