ReNew Energy Global

ReNew Energy Global plc
Company typePublic
Nasdaq: RNW
IndustryRenewable energy
FoundedJanuary 19, 2011 (2011-01-19)
FounderSumant Sinha
Headquarters
Gurgaon, Haryana
,
India
Area served
India
Key people
ProductsWind power, Solar power, Solar rooftop power, Hydroelectric power
Revenue ₹5,329 crore (US$630 million) (FY23)[1]
₹3,989 crore (US$470 million) (FY23)[1]
₹675 crore (US$80 million) (FY23)[1]
Owners
Number of employees
1382 (Jan 2022)
Websiterenew.com

ReNew Energy Global plc is an Indian renewable energy company, based in Gurgaon.[3] It is the first Indian renewable energy company to be listed on NASDAQ.[4] ReNew operates more than 150 projects spread across ten states in India.[5][6]

ReNew Energy ranks in top four per cent globally on CDP climate list and received an A rating in the Climate Change assessment by CDP for FY 2024–25.[7]

Formerly called ReNew Power, the company rebranded itself as ReNew in February 2023.[8][9]

In October 2025, ReNew Energy Global Plc achieved a score of 83 in the S&P Global Corporate Sustainability Assessment. With this score, the company ranked among the top 10% of energy companies worldwide, placing in the 93rd percentile globally out of 239 companies assessed as of 27 October 2025.[10]

As per reports In December 2025, Abu Dhabi Future Energy Company (Masdar) withdrew from a consortium planning to acquire and privatize ReNew Energy Global.[11][9][12]

History

Sumant Sinha started ReNew in 2011[13] and Goldman Sachs invested that September.[14] In 2023, Goldman Sachs exited the company completely.[15] In 2014, ReNew entered the Indian solar market by commissioning its first distributed solar project. Its first project, a 25.2 MW wind site in Jasdan, Gujarat, was inaugurated by Narendra Modi, then Chief Minister of Gujarat.[16] It commissioned India’s largest solar farm (510 MW) in Telangana in 2017.[17] In 2016, it became the first Indian renewable energy company to achieve 1 GW capacity and was also the first company to have 10 GW installed capacity.[13][18][19] As of Aug 2025, ReNew has current and planned assets with a capacity of generating more than 18.2 GW[20] of power with a commissioned capacity of 11.2 GW.[21][22][8]

In November 2025, ReNew Energy Global Plc announced an investment of ₹60,000 crore (US$6.7 billion) in the Indian state of Andhra Pradesh to develop multiple renewable energy projects. The announcement was made following the signing of four memoranda of understanding (MoUs) with the Andhra Pradesh Economic Development Board in the presence of Chief Minister N. Chandrababu Naidu and IT Minister Nara Lokesh in Visakhapatnam.[23]

Operations

In 2019, ReNew partnered with Korean company GSE&C in renewable energy, jointly developing the SECI-4 project in Rajasthan.[24]  A year later, in 2020, ReNew announced that it would manufacture solar cells and modules in India for 2 GW capacity.[25]

In 2020, ReNew became the first renewable energy company to be named to the World Economic Forum’s Global Lighthouse Network.[26]

In 2022, ReNew helped India avoid 0.5% of its annual carbon emissions and generated 14,263 GWh of clean electricity, enough to power around 4 million Indian households.[27] In the same year, the company signed an agreement to set up a green hydrogen plant in Egypt.[28]

ReNew reached 10 GW of gross renewable energy assets during 2023-24.[6] It generated 17,385 GWh in 2023.[29] It contributes approximately 10% of India’s total solar and wind energy generation and has the largest wind portfolio in India, with a capacity of 4.7 GW, representing 10.5% of India’s total wind energy capacity.[30]

According to Economic Time Report, ReNew now operates approximately 18.5 GW of clean energy portfolio as of June 2025.[31]

In December 2025, ReNew Energy Global Plc announced a partnership with Google to develop a 150 megawatt solar project in the Indian state of Rajasthan. Under the agreement, Google will procure the project’s energy attributes, including carbon credits, through a long-term arrangement considered essential for the project’s bankability. The partnership is intended to support Google’s efforts to reduce value-chain emissions and contribute to new renewable energy capacity additions in India.[32]

In October 2025, ReNew Energy Global Plc announced the sale of its 300 MW solar power project located in Jaisalmer, Rajasthan to Sembcorp Industries for an enterprise value of approximately USD 191 million. The definitive agreement was signed between Sembcorp’s wholly owned subsidiary, Sembcorp Green Infra Private Limited, and ReNew Private Limited for the acquisition of ReNew Sun Bright Private Limited, the entity owning the project.[33]

Funding and Listing

The company’s initial investment came from Goldman Sachs in 2011. As of 2023, Canada Pension Plan Investment Board (CPPIB) stands as ReNew’s major investor.[15]

In 2016, ReNew became the first renewable energy company to raise rupee-denominated masala bonds.[18]

In 2017, JERA (a joint venture between Tokyo Electric Power and Chubu Electric Power) became an equity holder to the company. In 2019, It raised $450 million through dollar bonds to retire some of its existing debt.[34] The same year, the Abu Dhabi Investment Authority (ADIA) invested $100 million into ReNew via rights issue.[35]

In 2021, ReNew announced that it would go public through its merger with a SPAC called RMG Acquisition Corporation II.[36] The merged company was to be called ReNew Energy Global PLC and listed on NASDAQ. ReNew was listed on the NASDAQ on 24 August 2021 under the symbol ‘RNW’.[37]

In 2023, Norway’s Climate Investment Fund managed by Norfund along with pension fund KLP invested Rs. 900 million in ReNew’s transmission project in Karnataka.[34]

In FY 2024, ReNew reported a net profit of Rs. 414 crore (over $49 million).[38]

In June 2025, ReNew Energy Global Plc reported a 415 per cent increase in consolidated net profit for the quarter ending March 2025, reaching ₹313.7 crore, compared with ₹60.9 crore in the same period the previous year.[31]

Project locations

ReNew has a portfolio of more than 18.2 GW[20] located in ten states of India.[39][40][41]

State Installed Solar Capacity
Karnataka 2.317 GW
Telangana 0.1 GW
Rajasthan 6.1 GW
Madhya Pradesh 101.2 MW
Tamil Nadu 150 MW
Andhra Pradesh 777 MW
Gujarat 5 GW
Maharashtra 1.068 GW

Philanthropic activities

ReNew funded ReNew Centre of Excellence at IIT Delhi which was launched in 2016 to help foster research and technology development of renewable energy in India.[42]

During the COVID-19 pandemic, ReNew committed ₹20 crore towards PM CARES Fund and Chief Minister's Relief Funds.[43]

Awards

ReNew has been recognized twice as a Lighthouse by the World Economic Forum[26] and has been included in MIT Technology Review’s list of Top 15 Climate Tech Companies to watch.[44]

In 2023, ReNew received the Sustainable Market Initiative’s Terra Carta Seal award.[45] It has also been recognized as an Energy Transition Changemaker by the COP28 Presidency for deploying the country’s first round-the-clock power project.[46]

ReNew is the recipient of awards, including by the Economic Times, 2022,[47] the Stevie International Business Awards (Energy Entrepreneur of the Year and Energy Sector Innovation of the Year in 2019 and Chairman of the Year and Energy Company of the Year in 2020,[48] by VCCircle[49] and S&P Global,[50] the Clean Energy Transition Award at Reuters Responsible Business Awards, 2020,[51] the Forbes India Leadership Award, 2017,[52] among others.

See also

References

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  52. ^ "Forbes India Leadership Awards : Winners 2017". www.forbesindia.com. Retrieved 22 January 2024.
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