ReNew and Société Générale sign MoU for $1 Billion in Financing for Renewable Energy Projects

ReNew, India’s leading renewable energy company, has signed a Memorandum of Understanding (MoU) with Société Générale, a global financial institution, to jointly support the financing and development of ReNew’s strategic renewable energy projects worldwide. The MoU references up to USD 1 billion of support over the next three years, primarily including debt financing and advisory solutions.

The parties will leverage their expertise to strengthen the collaboration on utility-scale energy projects, including solar, wind, complex renewables, green hydrogen, battery energy storage systems, and solar module manufacturing.

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Sumant Sinha, Founder, Chairperson, and Chief Executive Officer of ReNew, said, “This MoU represents a key milestone towards our ambitions in India and worldwide. Société Générale is a trusted partner for accelerated deployment of renewable energy projects, and this collaboration will contribute towards India’s net zero goals.”

Objectives of the MoU

The Memorandum of Understanding (MoU) signed between ReNew and Société Générale aims to support the financing and development of various strategic renewable energy projects in India and globally. The key objectives of the MoU are:

Collaboration on Energy Projects

Both parties will leverage their expertise to strengthen the collaboration on utility-scale energy projects. This includes solar, wind, complex renewables, green hydrogen, energy storage, and solar module manufacturing projects.

Contribution to Net Zero Goals

The collaboration aims to contribute towards India’s net zero goals. It represents a key milestone towards ReNew's ambitions in India and worldwide.

Supporting Growth Ambitions

Societe Generale looks forward to supporting ReNew's significant growth ambitions and driving the deployment of renewable energy in the global green energy market.

Read: Juniper Green Signs a PPA with SJVN to Supply 320 MW of Renewable Energy

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