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Karnataka govt signs MoU with ReNew Power for investment of Rs 50,000 crore

ReNew Power intends to set up production units in renewable energy, battery storage and green hydrogen with a potential to create employment opportunities for 30,000 people.

By: Express News Service | Bengaluru |
May 24, 2022 9:47:13 pm
Chief Minister Basavaraj Bommai at the World Economic Forum, meet being held at Davos signing an MoU with ReNew Power. (Twitter/ReNew Power)

ReNew Power, a leading name in the renewable energy sector, signed a Memorandum of Understanding (MoU) with the Karnataka government in the presence of Chief Minister Basavaraj Bommai at the World Economic Forum, meet being held at Davos, for an investment of Rs 50,000 crore over the next seven years. The company intends to set up production units in renewable energy, battery storage and green hydrogen with the potential to create employment opportunities for 30,000 people.

Mega Data Centre

Earlier in the day, Bommai met Chairman and CEO of Bharti Enterprises Sunil Bharti Mittal. The latter expressed a keen interest to set up a Mega Data Centre in the state. Bommai assured all the support from the state government to make it a reality.

Industries minister Murugesh Nirani, IT, BT minister C N Ashwathnarayan, Additional Chief Secretary in the department of Industries E V Ramana Reddy, CM’s Principal Secretary N Manjunath and Commissioner in the department of Industries Gunjan Krishna were present.

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