Founded in 2011 by Sumant Sinha, ReNew(Nasdaq ticker: RNW) (“ReNew”), a subsidiary of ReNew Energy Global PLC, is one of the largest renewable energy independent power producers (IPPs) in India and globally with a portfolio of more than 120 operational utility-scale wind, solar and hydro energy projects spread across 9 Indian states. The Company also caters to commercial and industrial customers across India.
ReNew was the first Indian renewable energy company to cross commissioned capacity milestones of 1 gigawatt (GW), 2 GW and 5 GW, and is presently the only company in the Indian renewable energy sector with ~7.7 GW* of operational capacity. The Company currently has an aggregate capacity of 13.4 GW* (including capacity already won in competitive bids).
ReNew’s growth has been aided by stable cash flows, secured through long-term contracts with well-regarded counterparties. Currently, ReNew’s total utility-scale committed capacity is contracted under power purchase agreements (PPAs) with an average duration of more than 24 years. Many ofthese contracts are with central government agencies, such as the Solar Energy Corporation of India (SECI) and NTPC Limited. Over the last 10 years, ReNew has also forged a robust and well diversified network of suppliers, enabling adoption of the best technologies, at optimal cost, across its projects portfolio.