ReNew gets $1 billion loan from Societe Generale for energy transition projects

ReNew signs MoU with Societe Generale to broaden collaboration on energy transition projects

ReNew, a renewable energy company, announced on May 15 that it has signed a Memorandum of Understanding (MoU) with Societe Generale, to support the financing and development of the company’s various strategic energy transition projects both in India and globally.

Under the MoU, signed for $1 billion over the next three years, both parties will leverage their respective expertise to strengthen the collaboration on utility-scale energy projects including solar, wind, complex renewables, green hydrogen, energy storage and solar modules manufacturing.

“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,” said Sumant Sinha, Founder, Chairperson and Chief Executive Officer of ReNew.

Katan Hirachand, Chief Executive and Chief Country Officer of Societe Generale India said the MoU marks an important step in their collaboration with ReNew. “..we look forward to supporting their significant growth ambitions and driving the deployment of green energy in the market,” Hirachand added.