LeapFrog leads with $50 million, joined by co‑investors Emerging Market Climate Action Fund and Carlyle AlpInvest.
Sembcorp has completed the acquisition of a 100% stake in ReNew’s 300 MW solar power project in Fatehgarh, Rajasthan.
Following this solar agreement, ReNew’s committed commercial and industrial (C&I) portfolio expands to 2.7 GW (2 GW commissioned and 700 MW under construction). Additionally, it has 700 MW in the pipeline.
ReNew Energy Global Plc has secured $331 million from the Asian Development Bank (ADB) to support the development of a 837 MWp wind-solar capacity backed with a 415 MWh battery energy storage system in Andhra Pradesh. This is part of ADB’s $477 million financial package for the project. The balance $146 million will be arranged by ADB through other lenders.
Sembcorp Industries has announced the signing of an agreement to acquire ReNew’s 300 MW solar power asset in Rajasthan. The acquisition, valued at around S$246 million, will increase Sembcorp’s gross renewable energy portfolio in India to 6.9 GW.
The ALMM List for solar cells features FS India (First Solar’s India arm), Jupiter, Emmvee, Mundra (Adani), Premier Energies, and ReNew with a combined annual solar cell production capacity of 13 GW.
ReNew’s net profit for the quarter ended March 31, 2025 surged 415% year-on-year to INR 313.7 crore ($37 million) with external sales of solar modules and cells alone contributing INR 220 crore.
The solar asset, Renew Solar Aayan Pvt Ltd (RSAPL), has been operational since March 2024 and benefits from a long-term 25-year power purchase agreement (PPA) with Solar Energy Corp of India (SECI) at a fixed tariff of INR 2.37 per kWh.
The company expands operations in India with a new office and R&D facility to address rapid solar growth in the market.
ReNew has started building a hybrid renewable energy project in Andhra Pradesh, which, upon completion, will have an installed capacity of around 2.8 GW (1.8 GWp of solar and 1 GW wind power), supported by a 2 GWh battery energy storage system.
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