ReNew | India's Leading Renewable Energy Company

ReNew | India's Leading Renewable Energy Company

Renewable Energy

Sustainable Development Goals

SDG 13 – Climate Action, SDG 7 – Affordable and Clean Energy, SDG 9 – Industry Innovation and Infrastructure

Company Overview

ReNew, legally ReNew Private Limited and a subsidiary of Nasdaq-listed ReNew Energy Global plc, is one of India’s largest renewable energy independent power producers. Founded in 2011 by Sumant Sinha, the company began operations in 2012 with a 25.2 MW wind project in Jasdan, Gujarat, and has since grown into a diversified clean energy business.

The company generates and sells solar, wind, hydro, and hybrid power to state utilities and commercial and industrial customers across India through long-term power purchase agreements. It operates more than 150 utility-scale projects spanning nine Indian states. Beyond power generation, ReNew has expanded into green hydrogen, battery energy storage, solar module and cell manufacturing, energy management solutions, and carbon credit services for corporate clients pursuing net-zero targets.

In 2021, ReNew became the first Indian renewable energy company listed on Nasdaq, following a SPAC merger, giving it access to international capital markets. The company has set a target of becoming a net-zero business by 2040 and has committed to a 90 percent emissions reduction by that date, aligned with the Science Based Targets initiative.

Headquartered in Gurugram, Haryana, ReNew’s ownership includes major institutional investors such as Canada Pension Plan Investment Board, the Abu Dhabi Investment Authority, and JERA, alongside founder Sumant Sinha, who continues to serve as Chairman and CEO.

Why These SDGs Matter

ReNew’s core business, generating and selling solar, wind, and hydro power to utilities and corporates, directly advances SDG 7 by expanding access to affordable, clean electricity within India’s energy mix. Its investment in solar module and cell manufacturing, green hydrogen infrastructure, and digital analytics for asset optimisation supports SDG 9 by building new industrial and clean-energy infrastructure capacity domestically. The company’s stated net-zero by 2040 target, its Science Based Targets initiative-aligned emissions reduction commitment, and its tracked avoidance of greenhouse gas emissions through renewable generation connect its operations directly to SDG 13, positioning it as a contributor to India’s broader climate action goals rather than a peripheral participant.

Products & Services
  • Utility-scale solar power generation and sale
  • Utility-scale wind power generation and sale
  • Hydropower generation and sale
  • Hybrid and round-the-clock firm power supply
  • Corporate power purchase agreement structuring
  • Green hydrogen production and solutions
  • Battery energy storage systems
  • Solar PV module and cell manufacturing
  • Energy management solutions for corporates
  • Carbon credit and green credit services
Business Challenges Solved
  • Limited access to reliable, contracted clean power for large electricity consumers
  • Corporate difficulty meeting net-zero and emissions-reduction commitments
  • Dependence on imported solar modules and cells for project development
  • Intermittency of solar and wind generation without firm, round-the-clock supply
  • Fragmented tracking of energy consumption and asset performance across large portfolios
  • Limited domestic manufacturing capacity for renewable energy components
  • Complexity of navigating carbon markets and green credit mechanisms
Approach & Methodology

ReNew operates as an independent power producer, developing, constructing, and operating utility-scale solar, wind, and hydropower assets under long-term power purchase agreements with state utilities and corporate buyers. Project development follows a structured process of site identification, land and grid connectivity assessment, engineering, procurement, and construction, followed by ongoing operations and maintenance, activities covered under the company’s certified quality, environmental, and occupational health and safety management systems.

The company has extended this generation base into a broader decarbonisation model. It has built solar module and cell manufacturing capacity to supply its own and third-party projects, reducing reliance on imported components. For corporate clients, ReNew structures customised power purchase agreements, offers green hydrogen production, and provides battery storage to firm up intermittent renewable output into round-the-clock supply.

Digital analytics, machine learning, and artificial intelligence are applied across the operating portfolio to monitor asset performance and improve energy efficiency, with automation used to reduce operational emissions. The company also participates in carbon markets, generating and trading carbon credits tied to verified emissions reductions from its renewable assets. Its sustainability approach incorporates Task Force on Climate-related Financial Disclosures guidelines to assess business risks and opportunities linked to the energy transition, feeding into publicly disclosed integrated annual reporting.

Market Position

ReNew operates in India’s utility-scale renewable energy segment, competing with other large independent power producers for state utility tenders and corporate power purchase agreements. Its primary customers are state electricity boards and distribution companies, alongside large industrial and commercial buyers seeking contracted clean power. The company differentiates itself through scale, a diversified generation mix spanning solar, wind, and hydro, and forward integration into manufacturing, storage, and green hydrogen, positioning it as a broader decarbonisation partner rather than a pure power generator. Its Nasdaq listing and institutional ownership base give it access to international capital that supports continued portfolio expansion.

Procurement Considerations
  • Verify project-specific power purchase agreement terms, tenure, and tariff structure
  • Confirm grid connectivity and transmission capacity for the relevant project site
  • Review ISO 9001, 14001, and 45001 certification scope against project requirements
  • Assess firm power or storage requirements if round-the-clock supply is needed
  • Evaluate counterparty financial strength given capital-intensive project structures
  • Clarify green hydrogen or carbon credit deliverables separately from core power supply
  • Confirm timelines for project commissioning against internal net-zero deadlines
Funding, Recognition & Ecosystem
  • First Indian renewable energy company listed on Nasdaq, via SPAC merger in 2021
  • Initial investment from Goldman Sachs at founding in 2011
  • Major institutional investors include Canada Pension Plan Investment Board, Abu Dhabi Investment Authority, and JERA
  • First Indian renewable energy company to raise rupee-denominated “masala bonds”
  • Rated AAA by MSCI ESG ratings for FY 2025, the highest rating tier
  • Rated A for CDP Climate Change in FY 2025, the first Indian energy sector company to reach this level
  • Featured in the S&P Global Sustainability Yearbook 2026 as the highest-ranked India-based electric utility
Natnavi Analysis

ReNew occupies a significant position in India’s clean energy transition as one of the country’s largest independent power producers, with a generation portfolio spanning solar, wind, and hydro assets contracted to state utilities and corporate buyers. Its 2021 Nasdaq listing marked a milestone for Indian renewable energy companies seeking international capital, and its subsequent forward integration into solar manufacturing, green hydrogen, and battery storage reflects an attempt to build a more complete decarbonisation offering rather than remaining a single-technology generator.

The company’s ESG ratings performance, including a top-tier MSCI score and improving CDP Climate rating, suggests disciplined sustainability governance relative to global utility peers. Its published net-zero by 2040 commitment, backed by Science Based Targets initiative alignment, provides a verifiable benchmark against which future progress can be assessed.

At the same time, ReNew’s business remains capital-intensive and concentrated in the Indian market, with profitability sensitive to project commissioning schedules, weather-dependent generation output, and financing costs, factors reflected in the volatility visible in its recent quarterly results. Its stated international footprint beyond India is described only in general regional terms in company materials, without the same level of project-level detail available for its domestic operations. This makes ReNew a company whose Indian generation business is well documented, while its newer international ambitions warrant continued monitoring.

Sources & References
Website
Founded: 2011
Company Stage: Public Company
Headquarters
Gurugram, Haryana, India
Geographic Presence
ReNew’s generation assets and utility-scale projects are concentrated in India, spanning more than 150 sites across nine states including Gujarat, Rajasthan, Madhya Pradesh, Karnataka, Tamil Nadu, and Telangana. The company has also described its commercial footprint as extending from South Asia into the Asia-Pacific region, the United Kingdom, Europe, the Middle East, and North Africa, serving corporate clients seeking decarbonisation partnerships beyond India.
Solution Type
Manufacturer, Service Provider, Technology Provider
Sustainability Outcomes
Carbon Reduction, Energy Efficiency, Renewable Energy Adoption, Water Conservation
Industries Served
Energy & Utilities, Government & Public Sector, IT & Digital Infrastructure, Manufacturing
Certifications: ISO 14001, ISO 45001, ISO 9001
Last Reviewed: August 18, 2026

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