ReNew Power, a renewable energy company, has rebranded itself as ReNew as the company plans to tap into the decarbonisation market.
The new brand identity reflects the company’s transition from being a pure-play renewable Independent Power Producer to an end-to-end provider of solutions across the decarbonisation spectrum, the company said on February 13 at an event in Delhi. ReNew is an end-to-end decarbonisation partner and has teamed up with global organisations like Microsoft and Amazon to support their climate goals.
“ReNew aims to provide solutions that will enable companies and countries to make a rapid, urgent and ethical transition towards clean energy. ReNew’s endeavour is to build on its renewable energy business, and widen its offerings across the spectrum that support decarbonisation within the context of the future of energy,” said Sumant Sinha, Chairman and CEO, ReNew.
Sinha had previously on two occasions told Moneycontrol about its plans to get into the decarbonisaton segment so as to help corporates achieve their respective net-zero targets.
Governments across the world are pushing for decarbonisation and companies are moving swiftly towards it. For instance, Tata Steel and JSW have announced decarbonisation plans as measures such as EU carbon border tax kick in soon.
According to industry estimates, global power consumption is likely to triple by 2050 as electrification and living standards grow. Decarbonisation will play a critical role in meeting sustainable development goals (SDGs) and strengthening global action against climate change.
“Over the past decade, ReNew has helped steer India’s journey towards renewables by amplifying solar and wind power generation. The Company has been a pioneer in leveraging digital technologies to accelerate the transition to green energy and address the unique requirements of the B2B segment in India, where it enjoys market leadership. ReNew’s new identity will reinforce its position as a leader in the energy services space and also a global brand with strong roots in India,” the company later said in a statement.
ReNew, established in 2011, is one of the largest renewable energy companies globally, with a leadership position in India. Starting with a 25.2 MW wind project in Gujarat, the company today has an aggregate renewable asset base of 13.5+ GW.
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