(MENAFN- KNN India) New Delhi, May 16
(KNN) ReNew, a major player in the renewable energy sector, has inked a Memorandum of Understanding (MoU) with the French multinational investment bank and financial services company, Societe Generale.
The MoU, valued at a USD 1 billion, is set to span over the next three years and aims to facilitate the financing and development of ReNew's diverse strategic energy transition projects, both in India and across the globe.
Under the terms of this landmark agreement, the two entities will leverage their respective expertise and strengths to collaborate on utility-scale energy projects.
These projects encompass a wide range of renewable energy sources, including solar, wind, complex renewables, green hydrogen, energy storage solutions, and solar module manufacturing facilities.
Sumant Sinha, Founder, Chairperson and Chief Executive Officer, ReNew, hailed the MoU as a pivotal milestone in the company's ambitious plans for India and worldwide expansion.
He expressed confidence that the collaboration with the esteemed Societe Generale, a trusted partner in the accelerated deployment of renewable energy projects, will contribute significantly towards India's net zero emissions goals.
“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,” he stated.
Echoing Sinha's sentiment, Katan Hirachand, Chief Executive and Chief Country Officer, Societe Generale India, described the MoU as an important step in the partnership between the two companies.
Hirachand emphasied Societe Generale's commitment to supporting ReNew's substantial growth aspirations and driving the deployment of green energy in the market.
(KNN Bureau)
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