ReNew Energy Global Plc

Who owns ReNew Energy Global?
ReNew Energy Global Plc is a publicly traded company listed on NASDAQ under the ticker RNW. Major shareholders include Canada Pension Plan Investment Board, Abu Dhabi Investment Authority, and JERA. Founder Sumant Sinha retains a significant equity stake and serves as chairman and chief executive officer. Goldman Sachs, the original 2011 backer, exited its position in 2023 through secondary block trades.

Is ReNew Energy Global publicly traded?
Yes. ReNew Energy Global Plc trades on NASDAQ under the ticker symbols RNW and RNWWW. The company went public in August 2021 through a merger with RMG Acquisition Corporation II, a special purpose acquisition company. It was the first Indian renewable energy company to list on NASDAQ. ReNew files an annual report on Form 20-F with the SEC. The associated warrants (RNWWW) expired worthless on August 21, 2026.

When was ReNew founded?
ReNew was founded on January 19, 2011 by Sumant Sinha as ReNew Wind Power, with an initial focus on wind energy generation. Goldman Sachs invested approximately INR 1,000 crore in September 2011, providing the seed capital. The company's first project was a 25.2 MW wind farm at Jasdan, Gujarat.

What is ReNew's installed capacity?
As of March 2026, ReNew had approximately 12.6 GW of commissioned capacity, including 100 MW of battery energy storage. The company's gross portfolio, including contracted and under-construction projects, reached 20.2 GW. ReNew also operates 6.5 GW of solar module manufacturing and 2.5 GW of solar cell manufacturing capacity, with 4 GW of additional cell capacity under construction.

Why did ReNew rebrand from ReNew Power?
ReNew rebranded from ReNew Power to ReNew in February 2023 to reflect its expansion beyond pure power generation. The company now operates in green hydrogen, carbon markets, energy storage, and digital energy services for industrial customers. The new name is intended to represent a broader decarbonization solutions platform.

Who are ReNew's main competitors?
ReNew competes primarily with Adani Green Energy, Tata Power Renewable Energy, Greenko, and JSW Energy in the Indian renewable energy market. State-owned NTPC Green Energy is also a growing competitor following its November 2024 public listing on NSE. The competitive environment is shaped by central government tenders and long-term power purchase agreements.

What is ReNew's revenue?
ReNew reported total income of approximately INR 150.6 billion for fiscal year 2026, up from INR 109 billion for fiscal year 2025. Adjusted EBITDA for fiscal year 2026 was INR 98.5 billion. Net profit for fiscal year 2026 was INR 10.4 billion, more than double the prior year. The company's fiscal year ends March 31.

Sumant Sinha established ReNew in January 2011 as ReNew Wind Power, with an initial focus on wind energy generation in India. The founding came at a moment when India's renewable energy sector was beginning to attract serious private capital, supported by state-level feed-in tariffs and the central government's emerging solar ambitions.

Goldman Sachs invested approximately INR 1,000 crore (approximately $200 million at the time) in September 2011, providing the seed capital that allowed ReNew to begin acquiring and developing wind projects. The company's first project was a 25.2 MW wind farm at Jasdan in Gujarat, inaugurated by Narendra Modi, then the chief minister of Gujarat. ReNew signed framework agreements with Kenersys, Regen Powertech, and Suzlon Energy to build and operate wind farms, targeting 200 to 300 MW of additions annually.

ReNew entered the solar market in 2014 by commissioning its first distributed solar project. The company pursued a dual-technology strategy from that point, building both wind and solar capacity across Indian states. In 2016, ReNew became the first Indian renewable energy company to reach 1 GW of installed capacity. The same year, it became the first renewable energy company globally to raise rupee-denominated masala bonds, tapping international debt markets in Indian currency.

The company raised substantial equity through the mid-2010s. JERA, the Japanese joint venture between Tokyo Electric Power and Chubu Electric Power, invested approximately $200 million in 2017 for a 10 percent stake. Abu Dhabi Investment Authority committed capital in 2019 through a rights issue. Canada Pension Plan Investment Board built its position through primary and secondary investments over multiple rounds. By 2017, ReNew had commissioned India's largest single-site solar farm, a 510 MW project in Telangana.

The company scaled rapidly through a combination of greenfield development and acquisitions of operating assets from smaller developers. In 2020, ReNew became the first renewable energy company to be named to the World Economic Forum's Global Lighthouse Network. The company announced plans to manufacture solar cells and modules in India for 2 GW capacity, later expanding to 6.5 GW of module capacity and 2.5 GW of cell capacity.

In August 2021, ReNew completed its merger with RMG Acquisition Corporation II and began trading on NASDAQ. The transaction valued the combined entity at approximately $4 billion and provided primary capital for capacity expansion. ReNew was the first Indian renewable energy company to list on NASDAQ. The company filed its annual report on Form 20-F with the US Securities and Exchange Commission, with fiscal years ending March 31.

In February 2023, the company rebranded from ReNew Power to ReNew, reflecting its expansion beyond pure power generation into green hydrogen, carbon markets, energy storage, and digital energy services. Goldman Sachs exited its remaining stake in 2023 through secondary block trades, closing the chapter on its 12-year involvement and marking the transition of ReNew's ownership from private equity backers to pension and sovereign wealth funds.

By March 2024, ReNew's portfolio reached approximately 13.5 GW on a gross basis. By March 2026, commissioned capacity reached approximately 12.6 GW, with a gross portfolio of 20.2 GW including 1.7 GW of battery energy storage. The company reported total income of approximately INR 150.6 billion for fiscal year 2026, up from INR 109 billion for fiscal year 2025. Net profit for fiscal year 2026 was INR 10.4 billion, more than double the prior year.

In November 2025, ReNew announced an investment of INR 60,000 crore (approximately $6.7 billion) in Andhra Pradesh to develop renewable energy projects. In December 2025, Abu Dhabi Future Energy Company (Masdar) withdrew from a consortium planning to acquire and privatize ReNew Energy Global, causing the buyout plan to collapse. The company's associated warrants (RNWWW) expired worthless on August 21, 2026.

ReNew's core business is generating renewable electricity, which displaces fossil fuel generation and reduces greenhouse gas emissions. The company reports annual carbon avoidance metrics in its sustainability disclosures, reflecting the emissions avoided by substituting renewable generation for grid-average thermal power. In fiscal year 2023, ReNew avoided approximately 14 million tonnes of carbon emissions and generated 17,385 GWh of clean electricity.

The company has set a net-zero target for 2040 and reports against the Task Force on Climate-related Financial Disclosures framework. ReNew publishes an annual sustainability report and aligns its reporting with the UN Sustainable Development Goals, particularly SDG 7 on affordable and clean energy and SDG 13 on climate action. The company signed an agreement with the Egyptian government to set up a green hydrogen plant in 2022.

Land acquisition for utility-scale solar and wind projects remains a sensitive area. Large renewable projects in India require land aggregation across multiple private holdings, and disputes over compensation and resettlement can delay development. ReNew's projects are subject to environmental clearance from India's Ministry of Environment, Forest and Climate Change where applicable. The company states it follows free, prior, and informed consent processes for community engagement, though specific project-level documentation is limited in public sources.

ReNew is not B Corp certified. Its sustainability claims rest on the inherent low-carbon nature of its generation portfolio rather than third-party certification of environmental management practices.

ReNew has received recognition within India's renewable energy sector for its scale and early-mover position. The company was the first Indian renewable energy company to list on NASDAQ, a milestone widely covered in Indian and international financial media. ReNew was recognized twice as a Lighthouse by the World Economic Forum and was included in MIT Technology Review's list of Top 15 Climate Tech Companies to Watch.

In 2023, ReNew received the Sustainable Market Initiative's Terra Carta Seal award. The company was also recognized as an Energy Transition Changemaker by the COP28 Presidency for deploying India's first round-the-clock power project. Sumant Sinha has been featured in Business Today, Forbes India, and the Economic Times for his role in building India's renewable energy industry. The company has received awards from the Stevie International Business Awards, VCCircle, S&P Global, and the Reuters Responsible Business Awards.

ReNew has encountered regulatory and operational issues typical of large Indian renewable energy developers. Renewable energy generators in India periodically face curtailment, where state distribution companies restrict offtake of renewable power due to grid constraints or financial stress. Several Indian states have delayed payments to renewable generators, including ReNew, creating working capital pressure. ReNew has disclosed these risks in its SEC filings, noting that certain state distribution companies have historically been slow to pay. The company pursues regulatory remedies through state electricity regulatory commissions.

Large solar projects require aggregation of agricultural and non-agricultural land. Some ReNew projects have faced local opposition over land compensation rates. These disputes are typically resolved through negotiation or state-level land acquisition processes under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.

ReNew's 2021 NASDAQ listing via a SPAC merger drew scrutiny from market commentators who questioned the valuation of approximately $4 billion given the company's then-profitability. The share price traded below the listing reference price for extended periods after the merger. This is a market-performance matter rather than a regulatory violation, and ReNew has since improved profitability, reporting record net profit in fiscal year 2026. The collapse of the Masdar-led privatization attempt in December 2025 and the expiration of warrants in August 2026 raised questions about the company's public market trajectory.