ReNew Power

Sumant Sinha started ReNew Power in 2011 and Goldman Sachs invested that September. The company began its first project at Jasdan in Gujarat in May 2012. In 2016, ReNew became the first renewable energy IPP to raise rupee-denominated masala bonds and the same year became the first Indian renewable energy company to achieve 1 GW capacity,In 2016, ReNew Power launched an IIT centre of excellence to collaborate with the institution in research and technology development.In 2017 JERA became an equity holder and ReNew doubled its capacity for the third year. In 2018, ReNew Power acquired Ostro Energy and Canadian pension fund CPPIB became an equity investor. 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 company GSE&C in renewable energy, jointly developing the SECI-4 project in Rajasthan. ReNew raised US$450 million through dollar bonds to retire some existing debt. In July 2020, ReNew Power announced that it will manufacture solar cells and modules in India for 2 GW capacity.During the COVID-19 pandemic, ReNew Power agreed to donate Rs. 20 Crores for mitigation.On February 24, 2021, ReNew Power announced that it would go public through its merger with a SPAC called RMG Acquisition Corporation II. The merged company will be ReNew Energy Global PLC and listed on NASDAQ. ReNew was listed on the NASDAQ on 24 August 2021 under the symbol "RNW". The value of the transaction is around $8 billion.In August 2021, ReNew Power announced an acquisition plan for 99 MW hydroelectric power plant from L&T.