ReNew Energy Global Plc, a decarbonisation solutions company, on Tuesday announced that its commercial and industrial platform, ReNew Green Energy Solutions Private Limited, has secured $95 million in equity investment led by LeapFrog Investments.
LeapFrog committed $50 million in the round, while the balance came from co-investors Emerging Market Climate Action Fund (EMCAF) and Carlyle AlpInvest.
Investors in the consortium join ReNew’s existing institutional investor base, which includes Canadian Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority (ADIA) and British International Investment (BII) across ReNew’s businesses, said a company statement.
“This partnership helps us scale solutions that reduce emissions, strengthen energy security, and support India’s industrial growth in a way that is both sustainable and inclusive,” said Sumant Sinha, Founder, Chairman & CEO, ReNew.
Nasdaq-listed ReNew Green delivers affordable, reliable renewable power through structured offtake agreements to a diversified customer base spanning automotive, chemicals, cement, textiles, and technology, serving both global and domestic customers.
The company’s green portfolio includes commercial and industrial (C&I) customers, with 2.5 GW of committed capacity across multiple states. Of this, over 2.0 GW is already commissioned. Within this, ~1.3 GW has long-term agreements with global technology leaders such as Microsoft, Amazon, and Google.
In addition, ReNew has 6.5 GW of solar module and 2.5 GW of solar cell manufacturing capacity and is expanding its solar cell manufacturing by 4 GW.
