ReNew Energy Global is an Indian renewable energy company engaged in the development, construction, ownership and operation of utility-scale wind and solar power projects, as well as distributed solar and hybrid energy solutions. Headquartered in Gurugram, Haryana, it is one of the largest independent power producers (IPPs) in the renewable energy segment in India and has a presence across multiple states in the country.
| Name | ReNew Energy Global plc |
|---|---|
| Industry | Renewable energy |
| Sector focus | Wind, solar, hybrid power, green hydrogen |
| Founder | Sumant Sinha |
| Headquarters | Gurugram, Haryana, India |
| Country of operations | India |
| Listing | Nasdaq (United States) |
The company was founded by Sumant Sinha, a former corporate executive with experience in the energy and finance sectors. It was established with a focus on building a portfolio of clean energy generation assets in India, at a time when the country was beginning to expand its installed base of grid-connected renewable capacity through competitive bidding and central agencies such as the Solar Energy Corporation of India (SECI) and NTPC.
Over time, ReNew expanded from being primarily a wind energy developer into a diversified renewable platform covering solar photovoltaic projects, wind–solar hybrid plants, round-the-clock renewable supply, and emerging areas such as green hydrogen and green ammonia.
The Indian operating business is held under ReNew Energy Global plc, the publicly listed parent entity. The company became publicly listed on the Nasdaq stock exchange in the United States through a business combination with a special purpose acquisition company (SPAC), making it among the first major Indian renewable energy firms to list overseas.
ReNew develops and operates utility-scale projects that sell electricity primarily under long-term power purchase agreements (PPAs) with central nodal agencies, state electricity distribution companies, and commercial and industrial (C&I) customers. Its asset base spans several Indian states with strong wind and solar resources, including Gujarat, Rajasthan, Karnataka, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Tamil Nadu.
In addition to power generation, the company has announced initiatives in:
ReNew is considered one of the bellwether companies of India's renewable energy transition. Its scale-up has paralleled the broader growth in Indian renewable capacity driven by national targets for non-fossil fuel based generation, programmes of the Ministry of New and Renewable Energy, and competitive tariff-based auctions. The company's overseas listing also marked a notable instance of an Indian clean-energy platform tapping international public capital markets.
Sumant Sinha serves as Chairman and Chief Executive Officer. The board and senior management include representatives of major institutional investors that have backed the company over successive funding rounds.