Renew has signed a joint venture (JV) with Gentari, a green energy company of Malaysian energy major Petronas, for renewable assets such as solar, wind and energy storage, with a total of five GW in India.
In this 50:50 JV, the Gurugram-based company and Gentari will explore investments for the project development. This strategic partnership expects to accelerate the development of renewable assets, and thus contribute to India’s 2030 vision of achieving 500 GW of installed renewable energy capacity.
In May 2023, Gentari, which picked up a 49 percent equity stake in ReNew's 403 MW peak power project, seeks to build around 30 GW in renewable energy capacity by 2030.