As the world gears up for COP26 Summit in November 2021, ReNew Foundation, the philanthropic arm of ReNew Power, organized a webinar that aimed to engage with the various stakeholders of the summit, to seek and address issues along with consecutive solutions that will help accelerate towards net-zero targets. Specific focus was given to industry, academia, government partnerships that can enable decarbonisation, hastening the energy transition and chartering a path towards global climate change mitigation.
From battling climate change to accelerating a wide array of development parameters, renewable energy proves to be a holistic solution to most of our developmental woes, as evidenced by the deep interlinkage of SDG 7 (Clean & Affordable Energy) to all the other Sustainable Development Goals. It also becomes imperative that sustained efforts are made towards accelerating the energy transition to renewable sources which harness the power of nature. In this context, ReNew Power and India Climate Collaborative partnered to host a dialogue on “The Dynamics of the Third Great Energy Transition in the Battle Against Climate Change”.
ReNew Foundation, the philanthropic arm of ReNew Power presents a webinar on ‘Realizing the Vision of Women – Led Atmanirbhar Bharat’.
We were delighted to have Ms. Smriti Zubin Irani (Hon’ble Union Minister for Women & Child Development and Textiles – Government of India) as the keynote speaker, Ms. Renata Dessalien (Resident Coordinator, UN India or a senior woman leader from UN agency), Ms. Dakshita Das (Addl. Member – Finance, Ministry of Railways, Government of India), Ms. Vaishali Nigam Sinha (Chair ReNew Foundation) as panelists and Ms. Kanika Chawla (Programme Manger – UN Energy) as the moderator for the webinar.
The state of Rajasthan blessed with a huge potential in renewable energy has been at the forefront of India’s energy transition. To deep dive into this area and explore the challenges & opportunities associated with Rajasthan as a key driver of the next phase of growth in India’s renewable energy sector we conducted a webinar which saw participation of Central and State policymakers, sectoral experts & industry leaders. We were delighted to have Shri Babul Supriyo (Hon’ble Union Minister of State – Environment, Forests & Climate Change) deliver the Keynote Address while Shri B.D Kalla (Hon’ble Minister for Energy – Govt. Of Rajasthan) outlined the state Government’s various policies and initiatives in his special address. This was followed by a panel discussion featuring M.M Ranwa (CEO, Rajasthan Urja Vikas Nigam Limited), Vishal Mehta (MD, Partner Boston Consulting Group, India), Sanjay Varghese (President and Head of Solar Busines, ReNew Power). The session was moderated by Deepak Gupta (SVP, Regulatory Affairs, ReNew Power).
India has a target of achieving 450 GW of renewable energy capacity by 2030. By then, the energy consumption is set to increase to about 2400 billion units per annum from the present 1300 billion units.
To understand the implications of storage technology and whether it would be a potent force to achieve 450 GW of renewable energy generation by 2030, ReNew Power hosted a panel discussion on ‘Is storage the silver bullet for target 2030?”
Experts on the panel were
1 Prof Abhijit Abhyankar, NTPC Chair Professor, Electrical Engineering Department, IIT Delhi
2 Prof Sagar Mitra, Professor, Energy Science and Engineering Department, IIT Bombay
3 Prof William Chueh, Associate Professor, Materials Science, and Engineering, Stanford University
4 Mr. Mayank Bansal, President, Strategy and Operations, ReNew Power
5 Dr. Rahul Walawalkar, President, Customized Energy Solutions(India) and IESA
6 Dr. YBK Reddy, Additional General Manager, Power Systems, Solar Energy Corporation of India (SECI)
The webinar discussed the factors that will drive the energy storage market in India such as the alternate revenue streams to make storage markets thrive, cost reduction options, etc.
In 2019, ReNew Power signed an MoU with The Andlinger Centre for Energy & Environment, Princeton University, Indian Institute of Technology Delhi (IITD), one of India’s foremost academic institutions and we are aiming to foster industry academia collaboration for cutting edge research in clean energy, environmental sustainability and facilitate technology and enhance knowledge transfer. To mark the first anniversary of this partnership, ReNew Foundation, the philanthropic arm of ReNew Power hosted a webinar titled “Industry Academia Partnership for a Fossil Free Future”. The hour-long webinar marked the presence of dignitaries such as Prof V Ramgopal Rao (Director, IIT Delhi), Prof Sally Benson (Co-Director, Precourt Institute for Energy, Standford) and Mr Sumant Sinha (CMD, ReNew Power). The session was moderated by Mr Vinay Rustagi (MD, Bridge To India). The insightful conversations acted like a revelation for all of us and paved the steps for the corrective measures to strengthen industry academia partnerships.
RE-INVEST 2020, themed ‘Innovations for Sustainable Energy Transition’ aims to accelerate the worldwide effort to scale up development and deployment of renewable energy and connect the global investment community with Indian energy stakeholders.
ReNew Foundation, the philanthropic arm of ReNew Power conducted a webinar on the topic “Green Recovery – The Key To A Resilient Post Pandemic Planet”. This webinar argued the case for a sustainable, equitable and resilient recovery from the pandemic and urged Governments to place clean energy and technologies at the heart of the recovery strategies and stimulus packages. The webinar marked the presence of stalwarts – Dr Pradeep Kurukulasuriya (UNDP), Sumant Sinha (CMD, ReNew Power), Justin Worland (TIME Magazine), Dr Ajay Mathur (TERI), Greg Gershuny (Aspen Institute), Soma Banerjee (CII) and was the session moderated by Akshat Rathi (Bloomberg).
So what scenarios will a post COVID world throw up and how can India make the most of the changed order? Are we going to see a more insular, protected world economy as a result of the pandemic? Will China’s loss, if at all that happens be India’s gain? Will Atma Nirbhar Bharat herald a new dawn for the Indian economy? To arrive at the answers to these fascinating questions and agree on a policy roadmap that will see India emerge as a major economic force in post Covid era, ReNew Foundation hosted a webinar on “The Impact of COVID 19 on global businesses with significant exposure to China” which was organized in association with the Indian Institute of Management Calcutta. The event saw several luminaries such as Amitabh Kant (CEO NITI Aayog), Dr. Anju Seth (Director IIM, Calcutta), Sumant Sinha (CMD ReNew Power), Dr. Mukesh Aghi (President & CEO at USISPF) and Merit Janow (Dean, SIPA Columbia University) participate in a lively and insightful panel discussion moderated by R. Sukumar, Chief Editor, Hindustan Times. The hour-long discussion touched upon several critical themes such as the changing geopolitical dynamics, how India can be the next manufacturing hub and the future of globalization.
Our Chairman & MD, Sumant Sinha and Chief Sustainability Officer, Vaishali Sinha, attended the prestigious annual meeting of the World Economic Forum at Davos being held from 22nd January to 25th January 2019. On this occasion, on 23rd January, ReNew Power hosted a Breakfast Roundtable, on the theme ‘India’s role in solving the global climate crisis’ which was chaired by Former Vice President of USA, Al Gore. With global leaders, stalwarts from various industries and other eminent personalities attending the roundtable, it was a spirited and enlightening conversation where various facets about the global climate crisis and India’s role in solving it were discussed. Some of the attendees included- Sajjan Jindal (Chairman & MD, JSW), Shiv Khemka (MD, Sun Group), Ratul Puri (CEO, Hindustan Power Projects), Lord Adair Turner (Chair, Energy Transitions Commission), Thomas Anderson (Chairman, Orsted), Dr Stephen Toope (Vice Chancellor, University of Cambridge), Hasnen Varawala (Head Banking, Barclays Africa), Madhur Deora (CFO, Paytm), Jason Bordoff (Founding Director, Columbia Center on Global Energy Policy), Samir Saran (President, Observer Research Foundation) and Rajiv Nayar (Group CFO, Adani).
On 14 Feb, 2017, ReNew announced an equity fund raise of $200 million for a 10 percent stake in the company through the subscription of newly issued shared by JERA co., (“JERA), a leading Japenese Power company with a global presence.
ReNew Power forms a partnership with IIT Delhi to set up the Sumant Sinha ReNew Centre of Excellence for Energy and Environment. The Memorandum of Understanding (MoU) exchange between Sumant Sinha, Chairman & CEO, ReNew Power and Dr. Bodh Raj Mehta, Director, IIT Delhi in the presence of Honourable President of India, Shri Pranab Mukherjee on November 16, 2016.
Global Compact Network India (GCNI) and Habitat For Humanity India (HFHI), jointly organising “Multi Stakeholder Consultation on Housing and Sanitation within Sustainable Development Goals (SDGs) Framework” on the World Habitat Day in October 2016.
ReNew Power’s Director Ms. Vaishali N Sinha sharing her views on “How Energy Can Spark Global Prosperity” at the Clinton Global Initiative (CGI) Annual Meeting 2016.
Ms. Vaishali Nigam Sinha expressing her views on CSR in Indian context at the CII event. The Session focussed on Industry’s perception of CSR and if it is seen as a ‘cost centre’ or an investment? How responsible business can ultimately lead to building goodwill and brand value and how innovation can play a role in transforming and changing the face of CSR.
Mr Sumant Sinha attending the “Roundtable on International Solar Alliance: The Trillion Dollar Opportunity”, April 22, 2016 at New York.
The ICC 4th Green Energy Summit focussed on the role of renewables for a sustainable future and how it is the game changer in the power industry.
The FT Growth Markets Summit had several top investors, business leaders, economists,advisors and policy-makers to discuss in detail the new forces determining global expansion,the regions, countries and sectors most likely to flourish in the medium to long term, and the most effective strategies for creating value and sustaining growth.
The Powering Telangana conference brought together renewable energy industry experts to discuss the future of renewables in the state of Telangana. The objective of the event was to attract investments for the development of the renewable power sector within the state.
ReNew Power Ventures Pvt. Ltd. announced that it has raised new equity funding of $265 million from new and existing investors. The lead investor in this round was a subsidiary of the Abu Dhabi Investment Authority (ADIA), with a commitment of $200 million for a significant minority stake in ReNew Power.
The first Renewable Energy Global Investors Meet (RE-Invest), was held in February 2015 where as many as 293 companies committed to generate 266 GW of renewable energy in the next five years under the government’s mbitious RE-Invest programme unveiled by Prime Minister Narendra Modi.
Indian Wind Energy Alliance (IWEA), was launched in New Delhi on December 3rd by Mr. Piyush Goyal, Hon’ble minister for Power, Coal and New & Renewable Energy. The primary objective of the alliance is to promote and
protect the interest of the Indian wind energy industry including wind energy producers, investors, manufacturers, component makers and other stakeholders.
The U.S.-India Energy Dialogue was held in New Delhi on March 5-11. Then Planning Commission Deputy Chairman Montek Singh Ahluwalia hosted the government-to-government portion of the Dialogue meeting on March 11 with United States Department of Energy Secretary Dr. Ernest Moniz.
ReNew Power’s first wind project was inaugurated by then Hon’ble Chief Minister of Gujarat, Mr. Narendra Modi.