ReNew Power

ReNew Power, one of India’s largest renewable energy companies, has announced an ambitious investment of Rs. 82,000 crore in Andhra Pradesh to expand its clean energy capacity and accelerate the state’s transition toward sustainable power. The investment, spanning solar, wind, and green hydrogen projects, underscores the company’s long-term commitment to India’s decarbonization goals and aligns with the government’s broader vision of achieving net-zero emissions by 2070.

Renewable energy firm ReNew Power has received an upgraded buyout proposal from a consortium of investors, offering to acquire all outstanding shares at USD 8.00 per share in cash. This revised bid values the company at approximately USD 880 million, marking a USD 100 million increase from an earlier offer. In response, ReNew’s board has constituted a Special Committee of independent directors, guided by external legal and financial advisors, to thoroughly review the proposal.

ReNew Power, a frontrunner in India's green energy sector, is set to invest Rs 22,000 crore to establish the nation's largest renewable energy complex in Andhra Pradesh. This ambitious project will feature a 1,800 MW solar plant, a 1,000 MW wind facility, and a 2 GWh battery energy storage system (BESS) in two phases. The development is significant not only for its scale but also for marking ReNew's return to the state after a five-year hiatus, following a tumultuous period during which the state government renegotiated power purchase agreements (PPAs).