Renewable energy company ReNew has signed a green attribute sale contract of 437.6 MW with Microsoft.

The contract is for over one million units of green electricity attributes to be generated annually, contributing to Microsoft’s ambition to become carbon-negative by 2030

ReNew will direct approximately $5 million of revenue from the contract towards a community fund to support environmental justice initiatives focusing on women’s livelihoods and economic empowerment, energy access, rural electrification, environmental remediation, water quality improvement, and other concerns of communities disproportionately impacted by pollution and climate change.

This work will be carried out in partnership with ReNew Foundation, the philanthropic arm of ReNew, which works to create sustainable communities through climate action, focusing on women and youth.

“This is a significant milestone in ReNew’s journey to support the global decarbonization goals of governments and corporates. We are thrilled with this signing, as both companies have shared ambitions towards carbon neutrality,” said Sumant Sinha, Founder, Chairman, and Chief Executive Officer of ReNew.

Puneet Chandok, President, of Microsoft India & South Asia, said, “Microsoft has ambitious renewable energy and decarbonization goals.  This agreement with ReNew accelerates our progress towards these goals while benefiting local communities through initiatives such as rural electrification and initiatives to improve women’s livelihoods.  We are taking a holistic approach that includes progressing our climate goals and empowering the ecosystem with the technology needed to build a more resilient future.”

ReNew said the agreement with Microsoft is part of the five power purchase agreements of 2.2 GW signed by the company during the quarter ended June 30, 2024, taking its total portfolio to 15.6 GW.

ReNew Power reported revenue of ₹22.81 billion (~$274 million), an increase from ₹21.25 billion (~$255 million) in the first quarter of the financial year 2025.

ReNew was one of the three companies declared winners in the Solar Energy Corporation of India’s auction to manufacture, test, package, forward, supply, and transport 400 MW of domestically manufactured solar modules.