ReNew Energy Global today announced that that its commercial and industrial platform, ReNew Green Energy Solutions, has secured $95 million equity investment. The investment is led by LeapFrog Investments, which has directly committed $50 million, with the balance from co-investors Emerging Market Climate Action Fund (EMCAF) and Carlyle AlpInvest.
ReNew Green’s portfolio is among India’s largest renewable energy portfolios serving commercial and industrial customers, with 2.5 GW of committed capacity across multiple states. Of this, more than 2 GW is already commissioned. Within this, around 1.3 GW is backed by long-term agreements with global technology leaders including Microsoft, Amazon, and Google.
“The C&I industry will be central to India’s decarbonization journey, and with investors like LeapFrog, we can deepen our ability to provide reliable, cost‑competitive renewable power to leading businesses across sectors,” said Sumant Sinha, founder, chairman & CEO, ReNew. “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.”
“This investment exemplifies LeapFrog’s climate strategy of backing high-growth, scalable businesses that enable emerging markets to leapfrog to cleaner, more resilient energy systems,” said Nakul Zaveri, global co-lead for climate investment strategy, LeapFrog Investments. “ReNew Green addresses a clear and rapidly growing demand for reliable renewable energy solutions among commercial and industrial customers, underpinned by structural tailwinds and a sustained green discount compared to grid tariffs. We believe this platform can deliver strong commercial performance while driving meaningful emissions reduction and job creation at scale.”
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