RENEW-POWER
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
Logical Intelligence Introduces First Energy-Based Reasoning AI Model, Signals Early Steps Toward AGI, Adds Yann LeCun and Patrick Hillmann to Leadership21.1.2026 19:21:00 CET | Press release
Logical Intelligence, an artificial intelligence company developing energy-based (EBM) reasoning systems, today announced that Kona 1.0, its pioneering EBM for reasoning, will enter pilot programs with select partners in the energy, advanced manufacturing, and semiconductor industries later this quarter. Logical Intelligence also released a live demonstration of Kona 1.0 on its website, beginning with head-to-head sudoku challenges against leading large language models. Additional demonstrations, including chess and Go, are planned. The company said the goal is to give researchers and the public a clear view into how energy-based reasoning differs from probabilistic systems. “Kona learns by recognizing and correcting its own mistakes, rather than guessing the most likely answer,” said Eve Bodnia, founder and CEO of Logical Intelligence. “If general intelligence means the ability to reason across domains, learn from error, and improve without being retrained for each task, then we are s
Galderma Provides Update on Arbitration Case Regarding Neuromodulator Research and Development Partnership21.1.2026 17:35:00 CET | Press release
Galderma (SIX:GALD), the pure-play dermatology category leader, today announced that an International Chamber of Commerce arbitral tribunal issued an award confirming the termination of a 2014 neuromodulator research & development partnership with Ipsen. The partnership was limited to the rights and obligations relating to the companies’ early-stage neuromodulator pipeline for aesthetic indications. Galderma welcomes the clarity provided by the arbitral tribunal. This decision has no impact on the commercialization of Galderma’s neuromodulator portfolio. Galderma will continue to commercialize and supply Dysport®/Azzalure®, Alluzience®, and RelfydessTM in all territories where it has regulatory approval and in accordance with our existing agreements with our partner Ipsen. Progressing on our path towards becoming the undisputed dermatology powerhouse Galderma remains focused on its ambition to become the world’s undisputed dermatology powerhouse across the full spectrum of a fast-growi
ThetaRay Appoints Financial Markets Technology Leader Brad Levy as Chief Executive Officer21.1.2026 17:00:00 CET | Press release
Former Symphony CEO to lead ThetaRay’s next phase of AI-driven category leadership in transaction monitoring and due diligence ThetaRay, a global leader in Cognitive AI financial crime compliance, today announced the appointment of Brad Levy as Chief Executive Officer. Levy, a leading financial markets infrastructure executive and former CEO of Symphony, will lead ThetaRay’s next phase of growth as the company continues to scale its Cognitive AI platform, now emerging as the leading AI strategy and technology for transaction monitoring and transaction due diligence, across banks and fintechs worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260121002476/en/ ThetaRay Appoints Brad Levy as CEO Levy brings decades of experience building and leading mission-critical financial infrastructure at scale. Most recently, he served as CEO of Symphony, the financial markets infrastructure and technology platform established by a
HCL Group and UpLink Announce Winners of ‘Water Resilience Challenge’ Under the Aquapreneur Innovation Initiative21.1.2026 16:02:00 CET | Press release
10 Aquapreneurs selected from over 300 applicantsWinners showcased innovations across digital water management, biological breakthroughs, hardware solutions, deep-tech design, and community-driven modelsFinancial support of CHF 1.75 million available to scale initiativesAquapreneur Innovation Initiative: CHF 15 million commitment to global water challenges HCL Group, a leading global conglomerate, and UpLink, the World Economic Forum’s early-stage innovation initiative, have announced the winners of the ‘Water Resilience Challenge,’ the fourth in a series of five challenges under the five-year, CHF 15 million Aquapreneur Innovation Initiative launched by HCL Group. The announcement marks a significant step in the ongoing mission to address global water challenges through innovation and entrepreneurship. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260121697759/en/ Roshni Nadar Malhotra, Chairperson of HCL Group, congratula
illumynt Appoints Chris Tejeda as Chief Revenue Officer21.1.2026 15:47:00 CET | Press release
illumynt today announced the promotion of Chris Tejeda to Chief Revenue Officer (CRO), reflecting the company’s continued growth and expanding global footprint. In his new role, Tejeda will lead illumynt’s global revenue strategy, customer engagement, and strategic partnerships as demand accelerates for secure, technology-driven IT Asset Disposition (ITAD) solutions. “Chris has been instrumental in aligning our commercial strategy with the evolving needs of hyperscale and enterprise customers,” said CEO Joerg Herbarth. “As AI accelerates infrastructure refresh cycles and raises the bar for security and compliance, his leadership will be critical to scaling illumynt with focus, transparency, and customer trust.” Tejeda brings extensive experience in enterprise technology services and has played a key role in illumynt’s recent momentum, including significant revenue growth and the expansion of advanced capabilities across AI/GPU diagnostics, automation, and value recovery. View source ve
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