DSK Legal is advising ReNew Energy Global plc (“ReNew” or “the Company”) (Nasdaq: RNW, RNWWW), India’s leading renewable energy company, on the transaction with JERA Co., Inc (“JERA”), Japan’s largest power generation company, to jointly evaluate development of a green ammonia production project in India. Under the agreement, ReNew, through its subsidiary, ReNew E-Fuels Private Limited, and JERA will jointly evaluate development of a green ammonia production project in Paradip, Odisha. The project will utilize approximately 500 MW of high-capacity utilization factor (CUF) renewable energy to produce green hydrogen, a key feedstock for green ammonia.

The project is likely to have a production capacity of approximately 100,000 tons of green ammonia annually by 2030. JERA will have the right to offtake this green ammonia for Japan, underscoring the strategic significance of this collaboration. The two companies have built a strong relationship during the past seven years and the project will leverage ReNew's proven capabilities in renewable energy development and solutioning, and JERA's expertise in building full value chains. This partnership between the two companies aligns with India's ambitious National Green Hydrogen Mission and Japan's clean energy transition goals. The Indian government aims to produce 5 million tons of green hydrogen per year by 2030, in an effort to become the world's largest green hydrogen hub. The Government of Japan is planning new initiatives to accelerate the transition towards clean energy. Both companies see India as a country with high potential for both solar and wind power.

ReNew is a leading decarbonization solutions company. ReNew has set up 10 GW of clean energy assets and has a portfolio of over 13.5 GW on a gross basis as of March 31, 2023, which is one of the largest globally. JERA was created through the consolidation of the fuel and thermal power departments of the Tokyo Electric Power Company and the Chubu Electric Power Company, and is the largest power company in Japan.

The core team at DSK Legal representing ReNew comprised of Mr. Aparajit Bhattacharya, Mr. Anjan Dasgupta and Mr. Avinash Kumar Khard (Partners). The partners are being supported by Ms. Shruti Dogra (Associate Partner), Ms. Shubhi Ameriya (Principal Associate) and Ms. Mala Mehto (Senior Associate) from the corporate/equity investment practice. While Ms. Supriya Upadhyayula (Associate) and Ms. Sanika Dalvi (Associate) have been supporting the partners from the projects/energy practice. Mr. Aparajit Bhattacharya acted as the relationship partner for ReNew at the firm, and Mr. Anjan Dasgupta acted as the lead engagement partner for this transaction. Allen & Overy, Tokyo, is representing JERA on the transaction.

ReNew Press Release: https://www.renew.com/press-release/renew-partners-with-jera-to-evaluate-joint-development-of-green-ammonia-project-in-india