ReNew Power and the United Nations Environment Program (UNEP) have entered into a partnership agreement to promote increased access to renewable energy and improved energy efficiency.
UNEP addresses environmental issues at global and regional levels for the United Nations. The program aims to promote international cooperation on environmental issues, to provide advice to United Nations organizations through its scientific advisory groups. It also encourages the international scientific community to participate in the formulation of policies for many UN environmental projects.
The two sides signed a Memorandum of Understanding in Delhi on July 10, 2020. The partnership focuses on easy access to renewable energy and higher energy efficiency. These goals are part of the strategies adopted by India to achieve its Nationally Determined Contributions (NDCs) under the Paris Agreement.
ReNew Power will partner with UNEP’s District Energy in Cities initiative as an implementing partner for renewable energy installations across India. The initiative aims to support market transformation and orient the heating and air conditioning sector towards energy-efficient and renewable energy solutions.
The partnership will also implement off-grid solar projects, studies and assessments. Joint efforts will be encouraged at annual events to showcase contributions to India’s strategic vision on renewable energy.
Notably, ReNew Power became one of the leading developers of large scale solar projects in India in terms of installed capacity during calendar year 2019. Together, the top three developers accounted for almost 35% of the total installations at large scale in 2019.
Recently, ReNew also announced the acquisition of Climate Connect (also known as Regent Climate Connect Knowledge Solutions Private Limited). Climate Connect is a technology company specializing in digital analysis, software development, artificial intelligence and machine learning, specializing in the field of the energy market. The acquisition gives ReNew Power access to energy management services. The acquisition is expected to add to ReNew Power’s digital portfolio and enable it to deliver a suite of digital offerings to its customers across the energy value chain.
Mercom previously announced that ReNew Power announced plans to invest between 15 and 20 billion yen (approximately $ 200-266.7 million) to set up a 2 GW solar cell and module manufacturing plant in the country.