ReNew Power becomes World’s first clean energy firm to be recognised as Lighthouse by WEF

Subscribe to YouTube Channel

Subscribe to Mojo4Industry YouTube Channel and get Latest Industry Updates. Do press Bell Icon to get automated notifications whenever new video is uploaded.

Must Read

Optiemus Electronics inks partnership with Taiwan’s Wistron for electronics manufacturing

Optiemus Electronics inks partnership with Taiwan’s Wistron for electronics manufacturingIn a major milestone towards building an Atmanirbhar Bharat by making India...

TVS Motor appoints Timothy Prentice as VP-Design, to oversee design solutions

TVS Motor appoints Timothy Prentice as VP-Design, to oversee design solutionsTVS Motor Company, a reputed two-wheeler and three-wheeler manufacturer...

Fortum Charge & Drive and Plug Mobility to set up 3,200 EV charging points in India

Fortum Charge & Drive and Plug Mobility to set up 3,200 EV charging points in IndiaPlug Mobility from Carzonrent India has...

ReNew Power becomes World’s first clean energy firm to be recognised as Lighthouse by WEF

ReNew Power, India’s leading renewable energy company, today announced that it has been named to the World Economic Forum’s (WEF) Global Lighthouse Network, which recognizes companies using new technologies to achieve environmentally sustainable, community supportive, profitable growth. In announcing ReNew’s appointment, the WEF specifically noted the Company’s recent investments in digital analytics and machine learning to increase the power yield, and decrease the downtime, of its solar and wind generation assets, as factors in its appointment.  ReNew is one of only two Indian companies to be recognized by the Global Lighthouse Network this year.

As announced on February 24, ReNew has entered into definitive agreement for a business combination with RMG Acquisition Corporation II, a publicly traded special purpose acquisition company (SPAC), that would result in ReNew becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions and is expected to occur in the second quarter of 2021.

ReNew’s Hubli facility was specifically nominated as a Global Lighthouse for its groundbreaking work in development and deployment of advanced analytics and machine learning solutions to increase the yield of ReNew’s wind and solar assets. The technology deployment helped ReNew improve employee productivity by 31% and reduce downtime for its assets by 31%, without incurring any additional capital expenditure. Speaking about the honour, Sumant Sinha, Founder, Chairman and Chief Executive Officer of ReNew Power said, “We are delighted to be named a Global Lighthouse company by the World Economic Forum. The recognition is a testament to our transformation efforts as we embark on our journey to become a data driven, clean energy enterprise supporting India’s clean energy transition. As we gain scale, we will embrace technology even further, in a manner that helps us respond better to disruptions, prepare for shifts in supply-demand balance, and prioritize workforce development.”

The WEF Global Lighthouse Network is a group of 69 factories which serve as a platform to develop, replicate, and scale innovations, creating opportunities for cross-company learning and collaboration, while setting new benchmarks for the global manufacturing community.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

is banner
- Advertisement -
our advertiser v2

Tech Talks

00:06:46

CII EXCON 2021 | Day 4 | Highlights

CII EXCON 2021 | Day 4 | Highlights The 11th edition of CII EXCON, South Asia’s largest construction equipment trade...
- Advertisement -
print v2

More Stories on mojo4industry