ReNew Power Private Limited (ReNew Power)
ReNew Power is the largest renewable energy IPP in India in terms of total commissioned capacity. Since commencing operations with a 25.2 MW wind project in Jasdan, Gujarat, the company has grown exponentially, and has a current renewable asset base of 10.3 GW, of which 5.48 GW is operational.
ReNew Power develops, builds, owns and operates utility scale wind and solar energy projects as well as distributed solar energy projects that generate energy for commercial and industrial customers. It today operates more than 110 utility scale projects spread across 8 states in India. In 10 years of its operation, ReNew projects have generated almost 85,000 jobs, directly and indirectly.
ReNew has a strong track record of organic and inorganic growth; it was the first company in its domain to reach 1 GW of commissioned capacity and has nearly doubled its operational capacity in each of the last three Fiscal Years. We have achieved market leadership in the Indian renewable energy industry against the backdrop of the GoI’s policies to promote growth of this sector.
The steady growth in operational capacity has been both organic and through acquisitions, with Ostro Energy being the latest acquisition. This is the largest acquisition for the company till date and reinforces its already strong position in the Indian market.
Established in the year 2011 by Sumant Sinha, ReNew Power is backed by marquee investors from across the globe such as Goldman Sachs, Abu Dhabi Investment Authority, Canada Pension Plan Investment Board, JERA (a joint venture between two of Japan’s largest utilities companies, Tokyo Electric Power Co., Inc. and Chubu Electric Power Co.) and Global Environment Fund. The Company continues to work with its shareholders and advisers on various strategic options for the business, including raising capital through an IPO etc.
Over the years, the success and growth of ReNew Power has been noted by the media, industry bodies & public at large and the company has won several notable recognitions. The most recent ones include VC Circle Infrastructure Company Of The Year 2020, the ET Innovation Award, 2019, Entrepreneur of the Year award at ET Awards 2018, The Champion of Tomorrow at CEO Award 2018, Corporate Social Responsibility Award at FICCI CSR Awards 2018, Entrepreneur of the Year award at EY Entrepreneur of the Year Awards 2017, Outstanding Start up at Forbes India Leadership Award 2017.See more