ReNew, Gentari Forge 5GW Renewables JV in India

• ReNew Power Pvt Ltd and Gentari Sdn Bhd join forces to invest in renewable energy projects in India, with a total capacity of 5 GW and plans to develop 30 GW by 2030. ReNew also aims for net-zero status by 2040.

ReNew Power Pvt Ltd, a unit of ReNew Energy Global Plc, and a subsidiary of Gentari Sdn Bhd, have formed a joint venture to invest in renewable energy projects in India. The two companies have signed a term sheet outlining their plans to develop solar, wind and energy storage projects with a combined capacity of 5 GW. Gentari, which is owned by Malaysian state-owned oil and gas company Petronas, has already bought a 49% stake in ReNew's 403-MW Peak Power project. It aims to build more than 30 GW of renewable energy capacity by 2030. ReNew also has an ambition to become a net-zero company by 2040. This joint venture marks an important milestone in India's transition toward renewable energy.

What Milestone Does ReNew Power's Joint Venture Mark in India's Renewable Energy Transition?

• This joint venture marks an important milestone in India's transition towards renewable energy, as the combined capacity of the projects developed by ReNew Power and Gentari Sdn Bhd, is 5 GW.
• ReNew Power and Gentari Sdn Bhd, aim to build more than 30 GW of renewable energy capacity by 2030.
• The joint venture is an indication of the commitment made by both companies to India's renewable energy transition, as they are investing in solar, wind and energy storage projects.
• This joint venture is also part of ReNew Power's aim to become net-zero by 2040.
• The joint venture also strengthens India's position as a leader in renewable energy, as it is investing in solar, wind and energy storage projects which will reduce emissions, create jobs and help the transition to a low-carbon economy.