ReNew Power, RackBank inks MoU for India’s first RE-powered hyper-scale data center
ReNew Power has announced the signing of a Memorandum of Understanding (MoU) with RackBank Datacenters Limited. RackBank is a data center platform providing data center services including but not limited to dedicated servers, managed servers, and colocation services. ReNew will supply power generated from renewable sources to RackBank's hyper-scale data center in India after a Power Purchase Agreement (PPA) is signed with RackBank.
As laid out in the MoU, ReNew will construct, co-own, and operate a hybrid power generation facility specifically to supply power to RackBank's data center. RackBank would purchase green power generated from this facility directly from ReNew, through the "Open Access" mechanism.
The MoU also provides for offsetting of non-renewable power consumed by RackBank's data center through green credits purchased from ReNew, ensuring that the data center operates on a completely net-zero emissions basis.
This project will be carried out and managed by ReNew Green Solutions, ReNew Power's business-to-business arm, which serves ReNew's growing list of leading industrial and commercial customers, and will lead to the creation of India's first green data center. This strategic relationship is one of a kind and is expected to be a precedent for green energy procurement by corporations in India.
Rackbank data center is spread out in a vast expanse of 35000 sq. ft. with a capacity of 800 racks and growing. The company projects that it will have 500 MW of IT infrastructure capacity in the next five years. This unique project will serve as a future-secured platform for data-driven companies to thrive in a 100-percent clean energy facility with zero carbon footprints.
Speaking about the collaboration, Mr. Sumant Sinha, Founder, Chairman, and CEO of ReNew Power, said, "The MoU between ReNew Green Solutions and RackBank reflects the commitment that responsible corporates are showing to shift towards cleaner energy sources to power their businesses. ReNew Power has been a pioneer in the renewable energy space and it has always been our endeavor to support firms looking to reduce their carbon footprint. We congratulate RackBank for embarking on this journey and look forward to our partnership for this potential 500 MW opportunity."
Mr. Narendra Sen, CEO of RackBank Datacenters Limited commenting on the MoU, said "We are proud to build India's first green data center and are excited to partner with ReNew Power for clean power procurement. This initiative is one of the major check posts for RackBank's vision of a sustainable future, along with the several other green initiatives previously taken by our company. RackBank Hyperscale platform will enable 100 percent clean energy for our data center and through this partnership, we should be able to reduce our power cost by 30 percent compared to power consumption directly from the grid."