On August 25, 2020, ReNew Power and the United Nations Environment Programme (UNEP) signed a partnership agreement to promote increased access to renewable energy and improved energy efficiency. This Memorandum of Understanding (MoU) is a part of progressive strategies that India has adopted to realise its Nationally Determined Contributions (NDC) under the Paris Agreement.
- The aim is to shift the heating and cooling sector to an energy efficient one.
-In accordance with MoU, ReNew Power will join hands with UNEP’s District Energy in Cities Initiative as an implementation partner for renewable energy installations across India.
-The partnership will also implement solar off-grid projects, studies, and assessments.
-Notably, renewable sources constitute about 23.6% of total installed capacity in India and had a target of 175 GW of renewable capacity by 2022 and 450 GW by 2030.
Recent Related News:
On 16th July 2020, NTPC (formerly known as National Thermal Power Corporation Limited) signs the MoU with National Investment and Infrastructure Fund (NIIF), acting through National Investment and Infrastructure Fund Limited (NIIFL) to seek investment opportunities in areas like renewable energy, power distribution and other areas of mutual interest in India.
About United Nations Environment Programme (UNEP):
Executive Director- Inger Andersen
Headquarter– Nairobi, Kenya
About ReNew Power:
Chairman and Managing Director (CMD)– Sumant Sinha
Headquarters– Gurugram, Haryana