ReNew Energy Global Plc, India’s decarbonization solutions company, through its subsidiary - ReNew Power Pvt. Ltd. (ReNew), and clean energy solutions provider - Gentari, through its subsidiary - Gentari Renewables India Pte. Ltd., have executed key terms to collaborate on a 50:50 joint venture in clean energy solutions.
The term sheet was exchanged between Sushil Purohit, Chief Executive Officer of Gentari, and Sumant Sinha, Founder, Chairman and CEO of ReNew.
renewable assets
As part of this proposed joint venture, Gentari and ReNew will collaborate to explore investments in the development of renewable assets including solar, wind, and energy storage, to achieve a target of 5 GW in renewable energy capacity.
The collaboration between the parties follows Gentari’s initial investment for a 49% equity stake in ReNew’s 403 MW Peak Power project in May 2023.
decarbonization objectives
This partnership ties in with its strategy of collaborating with long-term partners, accelerating renewable energy transition
As partners, Gentari and ReNew can accelerate their decarbonization objectives, enabling Gentari to make substantial progress in expanding its renewable energy portfolio and achieving its global ambition to build over 30 GW in renewable energy capacity by 2030.
For ReNew, this partnership ties in with its strategy of collaborating with long-term partners, accelerating renewable energy transition, and meeting its net zero target by 2040.
sustainability
"We are elated to embark on this strategic collaboration with ReNew, as it holds tremendous potential for accelerating the development of renewable assets in India," said Sushil Purohit, Chief Executive Officer of Gentari.
He adds, "With our aligned vision and extensive expertise, we aim to drive rapid progress in expanding India’s renewable energy capacity and fostering sustainable growth."
clean energy transition
Sumant Sinha, Founder, Chairman, and CEO of ReNew said, "We are delighted to welcome Gentari as a strategic partner in our goal of accelerating the clean energy transition."
He adds, "This partnership will be crucial in developing innovative solutions, which will contribute significantly to India’s 2030 goal of achieving 500 GW of installed renewable energy capacity."
