New Delhi, March 16 Clean energy company ReNew announced on Monday that it has secured USD 95 million in equity investment from a consortium led by LeapFrog Investments.
The company will use the funds to expand its commercial and industrial platform, ReNew said in a statement.
ReNew Green Energy Solutions Private Limited (ReNew Green) has secured USD 95 million (approximately INR 878 crore) in equity investment.
The investment is led by LeapFrog Investments, which has committed USD 50 million directly, with the remaining amount coming from co-investors Emerging Market Climate Action Fund and Carlyle AlpInvest.
Investors in the consortium will join ReNew's existing institutional investor base, which includes the Canadian Pension Plan Investment Board, Abu Dhabi Investment Authority (ADIA), and British International Investment across ReNew's businesses. LeapFrog will apply its proprietary impact measurement framework during the holding period, analyzing metrics such as avoided emissions, jobs created, and the implementation of enterprise-level governance and sustainability practices.
ReNew Green has one of the largest clean energy portfolios for commercial and industrial (C&I) customers, with 2.5 GW of committed capacity across multiple states.
Of this, over 2.0 GW is already commissioned. Within this, 1.3 GW has long-term agreements with global technology leaders such as Microsoft, Amazon, and Google.
Sumant Sinha, Founder, Chairman & CEO, ReNew, said, "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.
He further stated that the partnership will help ReNew scale solutions that reduce emissions, strengthen energy security, and support India's industrial growth in a way that is both sustainable and inclusive.
Citing official data, ReNew said that electricity consumption from India's C&I sector is 50 per cent of the country's total consumption, and this figure is expected to grow significantly in the coming years.