RENEW-POWER
15.3.2021 13:54:07 CET | Business Wire | Press release
ReNew Power (“ReNew” or “the Company”), 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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210315005451/en/
As announced on February 24, 2021, ReNew has entered into definitive agreement for a business combination with RMG Acquisition Corporation II (NASDAQ: RMGB, RMGBW, RMGBU), 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 honor, Mr. 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.
Speaking about the Global Lighthouse Network, Mr. Enno de Boer, Partner, McKinsey & Company and Global Lead of its manufacturing work remarked , “The 69 Lighthouse manufacturers open a window into the future of operations. Though no industry is immune from digital transformation, four sectors are resetting benchmarks - Advanced Industries, Consumer Packaged Goods, Pharmaceutical and Medical products, and Heavy Industries. We are seeing a paradigm shift emerge, from reducing cost to more focus on enabling growth and environmental sustainability. The Lighthouses are proving that unlocking smart capacity through digital technologies is more effective than spending on capital infrastructure.”
Speaking about the Lighthouse program, Mr. Francisco Betti, Head of Shaping the Advanced Manufacturing and Production, World Economic Forum said, “This is a time of unparalleled industry transformation. The future belongs to those companies willing to embrace disruption and capture new opportunities. Today’s disruptions, despite their challenges, are a powerful invitation to re-envision growth. The lighthouses are illuminating the future of manufacturing and the future of the industry. ”
ReNew Power, along with the World Economic Forum’s entire group of Global Lighthouse Network companies will be officially recognized at the “Lighthouse Live: Reimagining Operations for Growth” online event on March 17, 2021 at 8:00 am EST / 2:00 pm CET /6:30 pm IST. Interested parties may register for and attend the online event by clicking the link below: https://broadcast.mckinsey.com/332/4794/microsite/global-lighthouse-network-awards-2021.asp
About ReNew Power
ReNew Power Private Limited is India’s leading renewable energy independent power producer (IPP) by capacity and is the 13th largest global renewable IPP by operational capacity. ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects, as well as distributed solar energy projects that generate electric power for commercial and industrial customers. As of December 31st 2020, ReNew Power had a total capacity of close to 10 GW of wind and solar energy projects across India, including commissioned and committed projects. ReNew has a strong track record of organic and inorganic growth. ReNew’s current group of stockholders contains several marquee investors including Goldman Sachs, CPP Investments, Abu Dhabi Investment Authority, GEF SACEF and JERA. For more information, please visit: www.renewpower.in ; Follow ReNew Power on Twitter @ReNew_Power
About Global Lighthouse Network
The Global Lighthouse Network is a community of production sites and other facilities that are world leaders in the adoption and integration of the cutting-edge technologies of the Fourth Industrial Revolution (4IR). Lighthouses apply 4IR technologies such as artificial intelligence, 3D-printing and big data analytics to maximize efficiency and competitiveness at scale, transform business models and drive economic growth, while augmenting the workforce, protecting the environment, and contributing to a learning journey for all-sized manufacturers across all geographies and industries. The Global Lighthouse Network is a World Economic Forum project in collaboration with McKinsey & Co, factories and value chains that join the Network are designated by an independent panel of experts.
No Offer or Solicitation
This press release is for informational purposes only and shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210315005451/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EZO Reaches Financial Close on €150 Million Senior Debt Facility14.10.2026 13:21:00 CEST | Press release
Investment-grade, non-recourse financing will support the delivery of more than 3,000 charge points primarily across the whole of the UK along with additional development in Ireland. EZO has reached financial close on a €150 million investment-grade, non-recourse, senior debt facility. The funding will finance the design, installation, operation and maintenance of over 3,000 charge points, representing over 100,000 kWs of capacity, across the UK and Ireland under mostly long-term public sector “PPP-like” concessions with an attractive risk allocation between the public and private sector that will significantly advance EV infrastructure delivery, on time and to budget. These charge points are estimated to generate well in excess of £1 billion in electricity sales over the next 20 years, a portion of which will be shared with the public sector while, at the end of the concession, the chargers will revert back to the public sector. Headquartered in Ireland, EZO has expanded rapidly into
Compass Pathways Joins Forces with Leading Mental Health Organizations to Mark First-Ever U.S. Treatment-Resistant Depression (TRD) Awareness Day14.10.2026 12:30:00 CEST | Press release
First-ever Treatment-Resistant Depression (TRD) Awareness Day establishes dedicated moment to recognize and raise awareness of the condition’s profound impact on patients and their loved ones Survey data in a new report highlighting the significant burden of TRD on patients and caregivers to be released in a future communication Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, today announced the first-ever TRD Awareness Day in the U.S., a day dedicated to recognizing and advocating for individuals, caregivers and communities impacted by TRD. The campaign is being amplified by leading mental health organizations, including National Alliance on Mental Illness (NAMI), Mental Health America (MHA) and the Depression and Bipolar Support Alliance (DBSA). TRD is a form of depression distinct from major depressive disorder (MDD) that is estimated to affect approximately 4 million people in the U.S.,
Reliance Foundation and The Estée Lauder Companies Charitable Foundation Launch Multi-Year Partnership That Aims to Empower One Million Girls and Young Women in India14.10.2026 12:10:00 CEST | Press release
Partnership brings together two organizations with a shared commitment to advancing progress for women and girls. Reliance Foundation and The Estée Lauder Companies Charitable Foundation, the philanthropic arm of The Estée Lauder Companies, have announced the launch of a multi-year partnership that aims to empower one million girls and young women across India. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261014635257/en/ Mr. Stéphane de La Faverie, President and Chief Executive Officer, The Estée Lauder Companies, and President, The Estée Lauder Companies Charitable Foundation, and Ms. Isha Ambani, Director, Reliance Foundation. The program is designed for girls and young women from 14 to 20 years of age, across both rural and urban communities, with a focus on building life skills and confidence. It will begin in the Indian states of Maharashtra and Madhya Pradesh, with plans to expand to other parts of the country in th
High-Capacity DDoS Attacks Surge 1,286% in 1H 2026 According to NETSCOUT Threat Intelligence Research14.10.2026 12:05:00 CEST | Press release
Massive 1Tbps Events and Weaponized Residential Proxies Expose Critical Mitigation Gaps, Forcing Organizations to Rethink Enterprise and Carrier Defenses NETSCOUT® SYSTEMS, INC. (NASDAQ: NTCT) released its first half 2026 Distributed Denial-of-Service (DDoS) Threat Intelligence Report, revealing a significant shift in how attacks are launched and sourced. With more than 9.1 million DDoS attacks recorded globally by NETSCOUT between January and June 2026, the report highlights that DDoS risk is growing along three axes: the volume of traffic that must be inspected, the number of places where mitigation must be deployed, and the share of attacks that disrupt service without ever saturating a link. “The 1,286% rise in attacks clearing 1Tbps or 1Gpps means high-capacity events are no longer anomalies; they are routine,” stated Hardik Modi, VP Engineering, DDoS Solutions, and ASERT Threat Intelligence Team, NETSCOUT. “With the proliferation of residential proxies and short, rate-based attac
Reply Introduces Symbiosis: an AI-Driven Operating Model to Align Business Priorities and AI-Accelerated Delivery14.10.2026 10:00:00 CEST | Press release
Reply [EXM, STAR: REY] introduces Symbiosis, an AI-driven operating model designed for enterprises integrating generative AI and agentic systems into their operating processes. Supported by a dedicated platform, Symbiosis connects strategy, portfolio management and execution, helping organisations align priorities and investment decisions with measurable business outcomes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261014833053/en/ Reply introduces Symbiosis, an AI-driven operating model designed for enterprises integrating generative AI and agentic systems into their operating processes. Supported by a dedicated platform, Symbiosis connects strategy, portfolio management and execution, helping organisations align priorities and investment decisions with measurable business outcomes. As AI enables teams to develop, test and deliver solutions faster, organisations also need to adapt how they decide where to focus that cap
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom