Navjit Gill works on renewables in Indian market
ReNew Energy Global Plc (Nasdaq: RNW, RNWWW) and Malaysia’s Gentari Renewables India Pte Ltd will collaborate to explore investments into the development of renewable assets including solar, wind and energy storage, to achieve a target of 5 GW in renewable energy capacity.
The announcement came as the partners executed key terms to collaborate on a 50:50 joint venture in clean energy solutions.
The collaboration between the parties follows Gentari’s initial investment for a 49% equity stake in ReNew’s 403 MW Peak Power project in May this year.
As partners, Gentari and ReNew can accelerate their decarbonisation objectives, enabling Gentari to make substantial progress in expanding its renewable energy portfolio and achieving its global ambition to build over 30 GW in renewable energy capacity by 2030.
For ReNew, this partnership ties in with its strategy of collaborating with long-term partners, accelerating renewable energy transition and meeting its net zero target by 2040.
“We are elated to embark on this strategic collaboration with ReNew, as it holds tremendous potential for accelerating the development of renewable assets in India. With our aligned vision and extensive expertise, we aim to drive rapid progress in expanding India’s renewable energy capacity and fostering sustainable growth,” said Sushil Purohit, Chief Executive Officer of Gentari.
Sumant Sinha, Founder, Chairman and CEO of ReNew, welcomed Gentari as a strategic partner, saying it is “in our goal of accelerating the clean energy transition”.
“This partnership will be crucial in developing innovative solutions which will contribute significantly to India’s 2030 goal of achieving 500 GW of installed renewable energy capacity,” Sinha said on 26 July 2023.
The partnership is through subsidiary ReNew Power Pvt Ltd and clean energy solutions provider Gentari of Malaysian national oil corporation, Petronas.
Meanwhile, Gentari has appointed energy industry veteran Navjit Gill as its new Country Head for India, effective 10 July 2023.
Navjit brings 34 years of experience in the energy and marine sectors to his new role, and was previously the CEO of First Energy Pvt Ltd and the Chief Commercial Officer at SB Energy.
“With India’s increasing focus on achieving net zero goals, the country presents extensive opportunities for global private players to contribute,” said Purohit, announcing the appointment of Gill.
“We have full confidence that Navjit Gill will hit the ground running in developing our three core pillars: Renewable Energy, Hydrogen and Green Mobility.
“As India rapidly ascends to become the world’s fourth largest economy and third largest energy consumer, Gill’s expertise will enable us to capitalise on this growth and make a significant impact.”
As Country Head of Gentari India, Gill will lead the team in growing all three core pillars, fortifying its presence not only in Commercial & Industrial sectors by 2025 but also in utility-scale renewables, as well as collaborating to propel the company’s green hydrogen ambitions, and expanding its green mobility footprint.
“Gentari India also targets to pursue opportunities in areas where it can offer integrated clean energy solutions,” said Purohit. Fiinews.com
