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
Leo Cancer Care Raises $65M Series D to Scale Its Integrated Upright Cancer Care Platform8.7.2026 14:30:00 CEST | Press release
Oversubscribed round follows the world-first compact upright proton treatment at Stanford Medicine — funding a single upright platform that will span imaging and treatment across multiple radiation modalities. Leo Cancer Care, the medical technology company working to reinvent how patients are imaged and treated by designing systems around the body’s natural upright position, today announced the close of an oversubscribed $65 million Series D financing. The round was led by Silicon Valley’s Yu Galaxy and welcomes new investors including Eventide Asset Management, alongside continued support from the company’s existing investors. Leading cancer institutions are already adopting the upright approach. Stanford Medicine delivered the world’s first compact upright proton therapy treatment on 4 June 2026. Dana-Farber Cancer Institute and McLaren Health Care are among the institutions bringing the upright platform into their programmes — adoption that spans world-leading academic centers and
LUMI AI Factory Selects IQM to Deploy Advanced Quantum Computer, Accelerating Hybrid HPC and AI Development8.7.2026 14:00:00 CEST | Press release
The Halocene H4 quantum computer, named LUMI-IQ, will be delivered and installed in 2027 The system will be hosted at CSC – IT Center for Science in Finland and integrated into the LUMI AI Factory The system will provide researchers, industry innovators, and developers across Europe with a unique, advanced experimental platform where quantum computing and artificial intelligence converge The LUMI AI Factory, led by CSC – IT Center for Science, has selected IQM Quantum Computers (Nasdaq: IQMX) to deliver IQM Halocene H4, an advanced quantum computer aimed at accelerating hybrid high-performance computing, artificial intelligence, and quantum computing capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708006791/en/ LUMI AI Factory selects IQM to deploy advanced quantum computer, accelerating hybrid HPC and AI development IQM Halocene H4 is the first and most advanced on-premises superconducting quantum computer o
Merck Announces FDA Breakthrough Therapy Designation for Enpatoran in Lupus Patients With Active Skin Manifestations8.7.2026 14:00:00 CEST | Press release
Enpatoran could address a significant unmet need in lupus, specifically targeting cutaneous manifestations of the disease, which currently have no approved therapiesFDA's decision was supported by Phase 2 WILLOW study results, which demonstrated meaningful symptoms improvement, particularly among patients with active cutaneous manifestationsEnpatoran's potential to go beyond current treatment standards in lupus prompted FDA´s breakthrough designation, which is designed to expedite drug development and reviewNot intended for Canada-, UK- or US-based media Merck, a leading science and technology company, today announced that the US Food and Drug Administration (FDA) has granted Breakthrough Therapy designation to enpatoran for the treatment of lupus with active cutaneous manifestations. Enpatoran is an oral selective toll-like receptor (TLR) 7/8 inhibitor, designed to modulate pathways central to lupus-related inflammation. “For the 85% of lupus patients whose disease includes skin manif
Fastly Joins DIMPACT to Collaborate on Digital Sustainability8.7.2026 14:00:00 CEST | Press release
Fastly Brings Leading Cloud Edge Expertise to Help DIMPACT Members Understand and Optimize Digital Carbon Footprints Fastly, Inc. (NASDAQ: FSLY), a leading global edge cloud platform, today announced it has become a participant of DIMPACT, the coalition of leading organizations working to align industry changemakers and policymakers around meaningful, science-based solutions that reduce the environmental impacts of serving digital media products. As the first edge cloud platform provider to join the coalition, Fastly brings critical, real-world edge network data and infrastructure expertise and a transparent approach to emissions calculation and reporting to help major media, streaming, and publishing companies understand and optimize their digital carbon footprints. “We’re thrilled to welcome Fastly to the DIMPACT initiative. Their participation strengthens DIMPACT's ability to advance a more accurate, data-driven approach to measuring and reducing digital emissions,” said Jason Bell,
PubNub Introduces Blocks.ai: The Control Plane and Network Layer For AI Agents8.7.2026 14:00:00 CEST | Press release
Connect and control agents from everywhere, across any network and device, on the Blocks Network. PubNub introduces Blocks.ai today, a global network to connect and control agents across all agent frameworks, providers, and APIs. Blocks.ai lets developers reach their existing AI agents regardless of where they are hosted. Blocks Network supports all AI agent use cases without opening inbound ports, setting up tunnels, changing DNS, or modifying firewall rules. For more than a decade, PubNub has been the infrastructure and platform for real-time connectivity supporting billions of devices, now, PubNub delivers Blocks Network connecting the Internet of Agents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708521206/en/ AI agents have become increasingly critical to businesses who want control over their models, code, and data. But once those agents are running locally or behind a firewall, making them reachable from custom
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