ReNew and Societe Generale sign $1b deal for energy transition projects

This will support the development of projects such as wind, solar, and green hydrogen.

India’s energy firm ReNew signed a memorandum of understanding (MOU) with European Bank Societe Generale for $1b financing support for the development of the company’s energy transition projects domestically and globally.

In a statement, ReNew said the the $1b support over the next three years under the MOU will boost their partnership on utility-scale energy projects such as solar, wind, complex renewables green hydrogen, energy storage, and solar module manufacturing.

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“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,” ReNew Founder, Chairperson and CEO Sumant Sinha said.

Meanwhile, Societe Generale India Chief Executive and Chief Country Officer Katan Hirachand, said ReNew’s energy transition commitment is aligned with the bank’s goal to support its client and its Group’s sustainability journey.