GURGAON, India, December 3, 2018 /PRNewswire/ --
The winners of the Sumant Sinha Sustainability Leadership Award, instituted jointly by the Sumant Sinha ReNew Centre of Excellence (CoE) for Energy & Environment and the Indian Institute of Technology, Delhi (IITD), were felicitated in a ceremony held at the IIT Delhi campus on Tuesday, 27th November, 2018. The CoE was set up in IIT Delhi in the year 2017 to promote clean energy-related research and foster regular exchange of ideas between industry, academia and policy makers to accelerate adoption of renewable energy. The Sustainability Leadership Award was instituted earlier this year to recognize demonstrated action and exemplary leadership by students of IIT Delhi with respect to climate change/sustainability/ environmental issues - with a view to enhance awareness and interest amongst students about this key issue.
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To mark this occasion, ReNew Power and IIT Delhi organized a Sustainability Leadership Dialogue wherein the Chief Guest, Mr. Sukhbir Singh Sandhu, Additional Secretary (Technical Education) and Chief Vigilance Officer, Ministry of Human Resource Development gave away the award to the winners. Post evaluation of a total 20 nominations, the selection committee comprising of senior Professors from IIT Delhi and representatives from ReNew Power Ltd., two teams of IITD students - the Green Warriors and the Climate Crusaders - were declared winners. The Green Warriors were chosen for excellent work done in the area of segregation, management and efficient use of waste while the Climate Crusaders were recognized for their efforts in raising awareness about different types of pollution and steps taken to curb this. The winners were felicitated with a cash prize of Rs. 75,000 and a trophy for their contributions.
Speaking at the event, Mr. Sandhu drew attention to the importance of protecting our environment against over exploitation and pointed out that the MHRD has been funding and driving a rising number of R&D projects to help preserve the environment. Prof. V. Ramgopal Rao, Director IITD, informed about his plans to make IITD a 'zero waste' campus by 2020 and also shared that the campus generates 2 MW of power from renewables with an additional 1 MW in the pipelines.
Mr. Sumant Sinha, Chairman & MD, ReNew Power Ltd, said, "Humanity will be doing itself a great disservice if it opts for a carbon heavy, fossil fuel dependent growth path as it harms the environment. It is now clear that renewables driven energy is the way forward for the world at large. The biggest challenge today is better grid management so it can absorb more renewable energy and hence, this is the current focus area of the CoE at IITD."
The ceremony concluded with an engaging panel discussion on the theme 'Strengthening and promoting industry - academia collaboration for sustainability', moderated by Ms. Vaishali Nigam Sinha - Chief Sustainability, Communication and CSR Officer, ReNew Power with panelists including Mr. Amit Jain - Renewable Energy Specialist with the World Bank, eminent professors from IITD and senior executives from ReNew Power. Varun Sivaram, CTO, ReNew Power, summarized the discussion and said, "Universities and industry are natural partners to conduct both basic and applied R&D, spanning from invention to commercialization. Leading universities like Stanford, Columbia, and IIT Delhi have pioneered innovative models to foster industry cooperation and harness interdisciplinarity to solve real-world problems."
About ReNew Power
ReNew Power Limited is India's largest renewable energy IPP (Independent Power Producer) in terms of total energy generation capacity*. As of May 8, 2018, ReNew had a total capacity of over 5.85 GW of wind and solar power assets across the country, comprising 3.92 GW of operational capacity, 1.66 GW of under development capacity, and 0.27 GW of recently awarded SECI project. It develops, builds, owns and operates utility scale wind and solar energy projects as well as distributed solar energy projects that generate energy for commercial and industrial customers. ReNew has a strong track record of organic and inorganic growth having nearly doubled its operational capacity in each of the last three Fiscal Years. ReNew's broad base of equity investors include Goldman Sachs, JERA, ADIA, CPPIB, GEF SACEF India, and ADB (subsequently exited).
For more information, please visit: http://www.renewpower.in.; Follow ReNew Power on Twitter @ReNew_Power
*Source: CRISIL Research - Outlook on the Renewable Energy Market in India released in Mumbai in May 2018
ReNew Power Limited is proposing, subject to the applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed the DRHP with SEBI on May 8, 2018. The DRHP will be available on the websites of SEBI at http://www.sebi.gov.in, BSE at http://www.bseindia.com, NSE at http://www.nseindia.com and GCBRLMs, i.e. at http://www.investmentbank.kotak.com, http://www.mlindia.com, http://www.goldmansachs.com, http://www.jmfl.com, http://www.jpmipl.com and BRLMs, i.e. at http://www.idfcbank.com, http://www.ubs.com/indianoffers and http://www.yesinvest.in, respectively. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the DRHP, including the section "Risk Factors" on Page 23 of the DRHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision.
This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States. The securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933 or an exemption from such registration.
Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the Company, its management, as well as its financial statements. No public offering or sale of securities in the United States is contemplated.
"CRISIL Research, a division of CRISIL Limited (CRISIL) has taken due care and caution in preparing this report (Report) based on the Information obtained by CRISIL from sources which it considers reliable (Data). However, CRISIL does not guarantee the accuracy, adequacy or completeness of the Data / Report and is not responsible for any errors or omissions or for the results obtained from the use of Data / Report. This Report is not a recommendation to invest / disinvest in any entity covered in the Report and no part of this Report should be construed as an expert advice or investment advice or any form of investment banking within the meaning of any law or regulation. CRISIL especially states that it has no liability whatsoever to the subscribers / users / transmitters/ distributors of this Report. Without limiting the generality of the foregoing, nothing in the Report is to be construed as CRISIL providing or intending to provide any services in jurisdictions where CRISIL does not have the necessary permission and/or registration to carry out its business activities in this regard. ReNew Power Limited will be responsible for ensuring compliances and consequences of non-compliances for use of the Report or part thereof outside India. CRISIL Research operates independently of, and does not have access to information obtained by CRISIL's Ratings Division / CRISIL Risk and Infrastructure Solutions Ltd (CRIS), which may, in their regular operations, obtain information of a confidential nature. The views expressed in this Report are that of CRISIL Research and not of CRISIL's Ratings Division / CRIS. No part of this Report may be published/reproduced in any form without CRISIL's prior written approval."
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