ReNew Power

ReNew Power Limited is reportedly the largest renewable energy IPP in India, with regards to the total energy generation capacity. Since the time of commencement of operations with a 25.2 MW wind power project in Gujarat (Jasdan), reportedly ReNew Power has current asset base of over 8 GW, out of that over 5 GigaWatt is currently operational and they are aiming to attain the capacity of 20 GW under their new vision statement, To Be The Best Renewable Energy Company of The World. ReNew currently operate over 110 utility scale projects across eight states in India. Their turnkey projects involve developing, building, owning and operating utility scale wind and solar energy projects, apart from the distributed solar energy projects, which generate energy for commercial and industrial consumer segments.

For years, ReNew power has been one of the pioneers and on several occasions set new benchmarks in the Indian renewable energy landscape. ReNew was the first Indian company to reach one gigawatt of commissioned capacity in 2016, and in October 2019 they again became the first Indian clean energy company to cross 5 gigawatts of installed capacity across the country.

It became the first company in their sector to launch masala bonds in the year of 2015 and the first company to attract equity-based investments from the investors such as Goldman Sachs. In recent past, ReNew along with Greenko have won country's first energy storage tender to supply 1200 MW of clean energy. ReNew Power was reportedly the first Indian renewable energy company to enter the international Unicorns club in 2017.

Apart from these, ReNew has been involved in research and technical advancements. They were one of the first to collaborate with IIT Delhi and established a centre of excellence at the institution and in 2019 signed an Memorandum of Understanding with the Andlinger Center for energy and environment.

ReNew has been growing in operational capacity by means of both organic process and through acquisitions, with Ostro Energy being one of the latest acquisitions. Recently, ReNew power also acquired Climate Connect an Indian artificial intelligence-based startup. ReNew Power's success has been noted by the media, industry bodies & public and the company has won several notable awards and accolades. The most recent ones include the ET Process 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 innovation award in EHS by CII and most recently was named as S&P Platts Global Rising Star Company of the Year.

History
Sumant Sinha established ReNew power in 2011 and it received equity infusion from Goldman Sachs in September month of same year. The company commissioned its first project at Jasdan in Gujarat on May 6, 2012, and grew since then. In 2016, ReNew became the first renewable energy IPP to raise rupee denominated masala bonds and the very same year achieved 1GW capacity, becoming the first company in India to achieve it.

In 2016, ReNew power launched IIT centre of excellence to collaborate with the institution in research and technology development.

In 2017 JERA (a joint venture between Tokyo Electric Power Co., Inc. and Chubu Electric Power Co.) came on board as an equity holder and in the same year ReNew doubled its capacity again for the third year on the trot. In 2018, ReNew power concluded acquisition of Ostro energy and also saw Canadian pension fund CPPIB join the board as an equity investor. Besides this the company also signed MoUs with the states of Andhra Pradesh and Maharashtra for investments in renewable energy sector.

In 2019 ReNew power became the first company in India to partner with Korean major GSE&C in renewable energy sector when both companies decided to jointly develop the SECI-4 project won by ReNew Power in Rajasthan. ReNew has concluded a fund raising of US$450 million through Dollar bonds recently. The proceeds of this fund will be utilized by the company to retire some of its existing debt. In July 2020, ReNew Power announced that it will start manufacturing solar cells and modules in India for a 2 GW capacity.

During the COVID-19 pandemics period in India, ReNew Power committed to donate Rs. 20 Crores for the mitigation of the situation.

Project locations
ReNew Power has a portfolio of more than 5600 megawatts (MW) located in 8 States of India.

Wind portfolios are as per below: Solar portfolios:

Awards

 * Wind Energy Developer of the Year at 4th Wind IPP Summit Awards 2014-15
 * Central Board of Irrigation & Power (CBIP) Award for Excellence in Renewable Energy project execution
 * IWPA Award for best performing wind farms 2013-14 & 2014-15
 * Energy & Environment Foundation Environment Award- Gold Category at the EEF "Global Awards 2015"
 * CSR Leadership Award at National Awards for Excellence in CSR and Sustainability "CSR Leadership Award – 2015"
 * Women Leadership Award - 2015 at 5th Asia Best CSR Practices Awards 2015
 * Best Corporate Social Responsibility Practices Award at 5th Asia Best CSR Practices Awards 2015
 * Skoch Smart Technology Award 2015