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Radiance Renewables, Renewable energy developer and Singapore’s InfraCo Asia, division of the Private Infrastructure Development Group, declared a collaboration called – Radiance InfraCo Renewables Private Ltd – to build a portfolio of greenfield renewable energy projects for C&I clients in India.
This would allow the two companies to reduce carbon emissions in their supply chain and functions to meet their sustainability goals.
According to the official press release, Radiance InfraCo Renewables is anticipated to avoid 165,000 tCO2e greenhouse gas emissions each year, with an expected operating life of 25 years.
“The JV would primarily focus on solar projects and explore opportunities in wind-solar hybrids. The JV will create a sustainable and scalable platform managed in compliance with international standards of ESG principles,” it added.
Mumbai-based Radiance Renewables, which is a Eversource Capital portfolio company, has over 1-GW of operating and under-development capacity under its operational expenditure model.
“Through this strategic partnership, we are bringing together our strengths to propel the journey towards a greener future. This marks a significant step forward to offer both economic benefits and environmental stewardship,” said Manikkan Sangameswaran, executive director and CEO, Radiance Renewables.
The infrastructure firm aims to mobilise $25 billion by 2033 across South and Southeast Asia and Sub-Saharan Africa. Claudine Lim, Asia Director, InfraCo said that through this scalable portfolio approach, they hope to add momentum to India's transition towards achieving net zero emissions by 2070.
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