Renew Energy Global plc

05/06/2025 | Press release | Distributed by Public on 05/06/2025 05:00

Current Report by Foreign Issuer (Form 6-K)

Other Events

On May 6, 2025, ReNew Energy Global Plc ("ReNew") announced that it has secured an INR 8,700 million (US$100 million) marquee investment from British International Investment PLC ("BII") for its solar manufacturing business. BII is the UK's development finance institution and impact investor. BII's investment will be primarily utilized to construct a new 4 GW TOPCon cell facility in Dholera, Gujarat and to grow the business. After the closing of the investment, which is subject to customary approvals including those from lenders and anti-trust authorities, BII is likely to acquire a stake of approximately 10%* in ReNew Photovoltaics Private Limited, ReNew's dedicated solar manufacturing arm. Established in 2021, ReNew Photovoltaics comprises of fully operational 6.4 GW solar PV module facilities and a 2.5 GW solar cell facility, located in Jaipur, Rajasthan, and Dholera, Gujarat.

* The exact shareholding percentage may vary depending on FY26 EBITDA.

Forward Looking Statements

This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations, estimates, and projections of the company's management and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.

About ReNew

ReNew is a leading decarbonisation solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy portfolio of ~17.4 GWs on a gross basis as of February 14, 2025, is one of the largest globally. In addition to being a major independent power producer in India, we provide end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalisation, storage, and carbon markets that increasingly are integral to addressing climate change. For more information, visit www.renew.com and follow us on LinkedIn, Facebook, Twitter and Instagram.

Press Enquiries

pr@renew.com

Investor Enquiries
Anunay Shahi
Nitin Vaid
ir@renew.com

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