ReNew Energy Global

ReNew Energy Global plc
TypePublic
Nasdaq: RNW
IndustryRenewable energy
FoundedJanuary 19, 2011; 15 years ago (2011-01-19)
FounderSumant Sinha
Headquarters
Gurgaon, Haryana
,
India
Area served
India
Key people
ProductsWind power, Solar power, Solar rooftop power, Hydroelectric power
RevenueIncrease ₹15,063 crore (US$1.6 billion) (2026)
Increase ₹9,850.3 crore (US$1.0 billion) (2026)
Increase ₹1,038.5 crore (US$110 million) (2026)
Owners
Websiterenew.com

ReNew Energy Global (formerly ReNew Power) is an Indian renewable energy company based in Gurgaon. The company was listed on Nasdaq in August 2021 following a merger with a special-purpose acquisition company. ReNew operates more than 150 projects spread across ten states in India.

History

ReNew was founded on January 19, 2011, by Sumant Sinha. Goldman Sachs invested in the company in September that year. In 2023, Goldman Sachs exited the company completely.

In May 2012, the company commissioned a 25.2-megawatt wind power project in Jasdan, Gujarat, was inaugurated by Narendra Modi, then Chief Minister of Gujarat. In 2016, ReNew’s generation capacity reached 1 gigawatt (GW). In 2017, the company commissioned a 510 MW solar facility in Telangana.

In February 2021, ReNew announced plans to merge with RMG Acquisition Corporation II, a special-purpose acquisition company, in a transaction valuing ReNew at approximately US$8 billion, including debt. The company was listed on the NASDAQ on 24 August 2021 under the symbol ‘RNW’.

As of December 2025, ReNew had approximately 19.2 gigawatts (GW) of operational and planned projects, of which 11.4 GW had been commissioned. In December 2025, Masdar withdrew from a consortium seeking to acquire ReNew Energy Global and take it private.

Operations

In 2019, ReNew partnered with South Korean company GS E&C to develop the SECI-4 project in Rajasthan. In 2020, it announced plans to manufacture solar cells and modules in India.

In 2020, ReNew was included in the World Economic Forum’s Global Lighthouse Network. During the same year, the company was awarded a project under the Indian government’s first round-the-clock renewable energy tender. In 2022, ReNew generated 14,263 GWh of electricity. That year, it signed an agreement to develop a green hydrogen plant in Egypt.

ReNew generated 17,385 gigawatt-hours (GWh) of electricity in 2023. Its gross renewable energy assets exceeded 10 gigawatts (GW) in the 2023–24 financial year.

By June 2025, ReNew’s total renewable energy portfolio reached approximately 18.5 GW following the signing of power purchase agreements covering an additional 1.2 GW. In November that year, the company signed an agreement with the Government of Andhra Pradesh for a proposed ₹60,000 crore investment in renewable energy projects.

ReNew was selected under the Indian government’s Production Linked Incentive scheme for high-efficiency solar photovoltaic modules. As of 2026, it had annual solar module manufacturing capacity of 6.5 GW and solar cell manufacturing capacity of 2.5 GW. The company planned to increase its annual solar cell manufacturing capacity to 6.5 GW by December 2026.

Funding

Goldman Sachs invested in ReNew in 2011. In 2016, the company issued rupee-denominated masala bonds. JERA, a joint venture between Tokyo Electric Power and Chubu Electric Power, acquired an equity stake in ReNew in 2017.

In 2019, It raised $450 million through dollar bonds to retire some of its existing debt. The same year, the Abu Dhabi Investment Authority (ADIA) invested $100 million into ReNew via rights issue.

In 2021, ReNew announced that it would go public through its merger with a SPAC called RMG Acquisition Corporation II. 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’. In 2023, Goldman Sachs sold its remaining stake to the Canada Pension Plan Investment Board (CPPIB). Same year, Norway’s Climate Investment Fund, managed by Norfund, and pension fund KLP invested ₹900 million in ReNew’s transmission project in Karnataka.

Project locations

ReNew has a portfolio of more than 19.2 GW located in ten states of India.

State Installed Solar Capacity
Karnataka2.317 GW
Telangana0.1 GW
Rajasthan6.1 GW
Madhya Pradesh101.2 MW
Tamil Nadu150 MW
Andhra Pradesh777 MW
Gujarat5 GW
Maharashtra1.068 GW

Awards

See also

References

  1. ↑ Reporter, Staff (20 May 2026). "ReNew energy profit doubles to $111m in FY2026 as revenue climbs 39% | Asian Power". asian-power.com.
  2. ↑ Bhambhani, Anu (27 May 2026). "ReNew Energy's FY26 Profit Rises On Capacity Growth". TaiyangNews - All About Solar Power.
  3. ↑ "ReNew Power Takes SPAC Route, First Such Major Deal By An Indian Company, To List On Nasdaq". Moneycontrol. 24 February 2021. Retrieved 25 February 2021.
  4. ↑ "ReNew unveils new brand identity as it reinforces leadership in providing decarbonisation solutions". 13 February 2023.
  5. ↑ "ReNew Power unveils its new rebranding and decarbonisation focus". CNBCTV18. 13 February 2023. Retrieved 22 January 2024.
  6. ↑ Prasad, Rachita (26 August 2021). "ReNew lists on Nasdaq at $4.5 billion valuation". The Economic Times. Retrieved 22 January 2024.
  7. ↑ Samant, Shilpa (13 February 2023). "ReNew Power rebrands itself as 'ReNew', adds decarbonization solutions to its portfolio". The Economic Times. Retrieved 22 January 2024.
  8. ↑ Ghoshal, Devjyot (5 June 2017). "A former Wall Street banker is building India's largest clean energy company". Quartz. Retrieved 21 October 2026.
  9. 1 2 3 Jai, Shreya. "Goldman exits ReNew, CPPIB becomes new majority owner in the company". Business Standard.
  10. ↑ "ReNew Wind plans Rs 6,000 crore investment in 2 years". BusinessLine. 7 May 2012. Retrieved 22 January 2024.
  11. ↑ "ReNew Power hits 1000 MW milestone". The Hindu. 12 April 2016. ISSN 0971-751X. Retrieved 21 October 2026.
  12. ↑ "Telangana gets largest solar farm in Nizamabad district". The Times of India. 16 April 2017. Retrieved 22 January 2024.
  13. ↑ Sengupta, Debjoy (11 April 2016). "ReNew Power first Indian company to achieve 1GW solar capacity". The Economic Times. Retrieved 27 May 2020.
  14. 1 2 "ReNew Power raises $375 million via green bonds - ET EnergyWorld". ETEnergyworld.com. Retrieved 27 May 2020.
  15. ↑ "ReNew Power to merge with RMG II". The New Indian Express. 25 February 2021. Retrieved 21 October 2026.
  16. ↑ Bhaskar, Utpal (24 August 2021). "ReNew completes merger with RMG II". mint. Retrieved 21 October 2026.
  17. ↑ "ReNew Announces Results for Q3 FY26". BusinessWire. 16 February 2026. Retrieved 10 March 2026.
  18. ↑ "ReNew Energy Q3 results". PV Magazine India. 17 February 2026. Retrieved 10 March 2026.
  19. ↑ "ReNew Q3 FY26 performance". SolarQuarter. 16 February 2026. Retrieved 10 March 2026.
  20. ↑ "ReNew buyout plan collapses after Masdar exit". ETEnergyworld.com. 16 December 2025. Retrieved 17 January 2026.
  21. ↑ "ReNew Energy's US delisting plan collapses as Masdar pulls out". VCCircle. 17 January 2026. Retrieved 17 January 2026.
  22. ↑ Kumar, V. Rishi (1 February 2020). "Greenko, Renew Power bag SECI mega renewable cum storage based projects". BusinessLine. Retrieved 22 January 2024.
  23. ↑ "ReNew setting up solar cell units at Rs 2,000 cr investment in Raj, Guj". Business Standard. 15 January 2023.
  24. ↑ "ReNew Power becomes part of WEF Global Lighthouse Network". The Economic Times. 15 March 2021. ISSN 0013-0389. Retrieved 22 January 2024.
  25. ↑ "Country's first round-the-clock solar power tender closes at Rs 2.9/unit". Business Standard.
  26. ↑ Livemint (31 October 2022). "ReNew Energy aims to achieve net zero emission by 2040". mint. Retrieved 22 January 2024.
  27. ↑ Livemint (15 November 2022). "ReNew signs agreement with Egyptian govt for green hydrogen plant". mint. Retrieved 22 January 2024.
  28. ↑ "ReNew surpasses 10 GW capacity with record renewable asset additions in FY24". The Economic Times. 10 April 2024. ISSN 0013-0389. Retrieved 19 February 2025.
  29. ↑ "ReNew avoids 14 MT carbon emission in FY23, says company report". The Economic Times. 9 November 2023. ISSN 0013-0389. Retrieved 19 February 2025.
  30. ↑ Baruah, Rituraj (10 April 2024). "ReNew aims to double green energy portfolio to 20 GW by FY28 | Company Business News". mint. Archived from the original on 29 January 2025. Retrieved 19 February 2025.
  31. ↑ "ReNew inks pact with Google for 150-MW solar project in Rajasthan". ETEnergyworld.com. 16 December 2025. Retrieved 10 March 2026.
  32. ↑ Shah, Junaid (8 October 2025). "ReNew Energy Sells 300 MW Jaisalmer Solar Project to Sembcorp for USD 191 Million". Saur Energy. Retrieved 10 March 2026.
  33. ↑ "ReNew Energy Q4 net profit soars 415% to ₹313.7 crore". ETEnergyworld.com. 16 June 2025. Retrieved 18 November 2025.
  34. ↑ Rao, V. Kamalakara (13 November 2025). "ReNew Energy Global Plc announces fresh investment of ₹60,000 crore in Andhra Pradesh". The Hindu. Retrieved 9 March 2026.
  35. ↑ Baruah, Rituraj (24 April 2026). "ReNew to invest ₹4,200 crore in 6.5GW solar ingot-wafer unit in Andhra Pradesh | Company Business News". mint. Retrieved 21 October 2026.
  36. ↑ Publicover, Brian (14 February 2017). "Japanese venture snaps up 10% of ReNew Power for $200 million". pv magazine Global. Retrieved 21 October 2026.
  37. 1 2 "ReNew Power partners with GS E&C to execute solar project in Rajasthan". The Economic Times. 11 December 2019. ISSN 0013-0389. Retrieved 22 January 2024.
  38. ↑ "India's ReNew Power to list on Nasdaq, aims to raise $1 billion". Business Today. 23 August 2021. Retrieved 22 January 2024.
  39. ↑ "Chamath Palihapitiya unveils investment in ReNew Power, India's largest clean energy company that's set to go public via SPAC". Business Insider. Retrieved 22 January 2024.
  40. ↑ Mohanty, Shashwat (18 August 2021). "ReNew Power set to list on NASDAQ on August 24". The Economic Times. ISSN 0013-0389. Retrieved 22 January 2024.
  41. ↑ Baruah, Rituraj (7 November 2025). "ReNew gets $331 mn financing from ADB for large-scale renewable energy project in Andhra | Company Business News". mint. Retrieved 30 January 2026.
  42. ↑ www.ETEnergyworld.com. "ReNew signs 2.2 GW PPAs, expands portfolio to 15.6 GW - ET EnergyWorld". ETEnergyworld.com. Retrieved 23 February 2025.
  43. ↑ "Renew power limited" (PDF). Archived from the original (PDF) on 8 January 2022.
  44. ↑ "ReNew Power". Renewable Watch. 9 August 2019. Retrieved 27 May 2020.
  45. ↑ Kumar Gunjan, Rounak (2 March 2017). "ReNew Power is infrastructure company of the year: VCCircle Awards". VCCircle. Retrieved 21 October 2026.
  46. ↑ "SMI Announces 2023 Terra Carta Seal Winners". Sustainable Markets Initiative. Retrieved 27 February 2025.
  47. ↑ "ReNew Power becomes part of WEF Global Lighthouse Network". The Economic Times. 15 March 2021. ISSN 0013-0389. Retrieved 22 January 2024.
  48. ↑ "2023 Climate Tech Companies to Watch: ReNew and its ambitious clean energy projects". MIT Technology Review. Retrieved 27 February 2025.
  49. ↑ www.ETEnergyworld.com. "ReNew Power commits Rs 20 crore for fight against Covid-19 - ET EnergyWorld". ETEnergyworld.com. Retrieved 22 January 2024.
  50. ↑ Hu, Charlotte (9 June 2026). "World's Top GreenTech Companies of 2026". Time. ISSN 0040-781X. Retrieved 21 October 2026.