Company Profile

Overview
ReNew Power, established in 2011, is one of India’s largest renewable energy IPPs in terms of
total energy generation capacity and the first Indian RE firm to list on NASDAQ (NASDAQ: RNW).
Since commencing operations with a 25.2 MW wind project in Jasdan, Gujarat, the company has
grown exponentially, and has a current renewable asset base of more than 10 GW, including
projects under development and in the pipeline. In April 2022, ReNew Power became the 1st RE
company in India to cross 7.3 GW of installed capacity. ReNew’s current commissioned capacity
stands at 7 GW while total capacity including pipeline and under construction projects amounts
to more than 10 GW.
ReNew Power develops, builds, owns and operates utility scale wind and solar energy projects as
well as distributed solar energy projects that generate energy for commercial and industrial
customers. It today operates more than 135 utility scale projects spread across 9 states in India.
In more than a decade of its operation, ReNew projects have generated over 1.3 lakh jobs,
directly and indirectly. ReNew generates 1.8% of India’s total electricity annually, and in doing so
helps mitigate half a per cent of India’s carbon emissions in a year. Currently ReNew is ranked
among India’s top 40 companies across sectors by asset size and has the highest CAGR of assets
among Indian companies in last 5 financial years. It is India’s only renewable energy unicorn as
per the Hurun India Unicorn Index 2020. In March 2020, ReNew Power became the first
renewable energy company in the world to be named to the World Economic Forum’s Global
Lighthouse Network, which is an exclusive community of organizations that have demonstrated
exemplary adoption of 4 IR technologies for business impact. Recently, ReNew Power was
recognized among the top 10 Companies globally in Fortune Magazine’s 2021 ‘Change the World’
list.
ReNew has a strong track record of organic and inorganic growth; it was the first company in its
domain to reach 1 GW of commissioned capacity and has doubled its operational capacity in
three consecutive Fiscal Years from FY 2015 – 16 to FY 2017 - 18. ReNew’s operational capacity
registered a CAGR of 89% from FY 13 – FY 18, about 4 times that of the industry during this period.
ReNew has achieved market leadership in the Indian renewable energy industry against the
backdrop of the Government of India’s policies promoting growth of this sector.

Key Strengths
1. Disciplined project selection and execution
The ability to select and execute projects in a disciplined manner has aided ReNew Power’s
growth. In case of wind energy projects, the company has developed capabilities in forecasting
and determining wind resource availability that enhances effectiveness of turbine site selection.
For solar energy projects, it has developed effective EPC capabilities and expertise in project
design, construction, procurement and installation.

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2. Efficient capital structure with access to multiple funding sources
ReNew Power benefits from a robust balance sheet, which it leverages prudently to support
growth. The company’s equity investors include a broad cross-section of well-known
international private equity, sovereign wealth and pension funds as well as renewables and
infrastructure focused investors. It has access to a range of project finance and debt instruments
from multiple Indian and international investors. It is the first Indian renewables IPP to raise USD
475 million Rupee denominated Masala Bonds. It has successfully raised more than $7.3bn of
equity and debt funding thus far.
3. Strategic investment & acquisition decisions
ReNew Power has always been prudent about its investment decisions. This has enabled it to
attract marquee investors from across the world, for both equity as well as debt. In one of the
largest acquisitions in the Indian renewable energy industry, ReNew Power acquired Ostro
Energy for ~ Rs 10000 Cr. This added 1108.10 MW of wind and solar energy projects to portfolio
and reinforced its already strong position in the Indian market.
4. Project portfolio diversification across resource, geography, off takers and vendors
ReNew Power’s projects are well diversified - between wind and solar projects, across
geographies and also across off takers and vendors. The wind and solar utility scale projects are
located in eight states across India as of March 2021, with no state contributing more than 28%
of its total operational capacity. Off takers include central government agencies, public utilities,
specifically state electricity utilities, and private industrial and commercial consumers. As of
October 31, 2020, no single state off taker accounts for more than 11% of the total capacity,
while central agencies account for 48% of overall offtake. The company works with a range of
OEMs for sourcing wind and solar equipment and no single OEM contributed more than 32% of
wind turbines or 13.3% of solar module panels of the total contracted capacity.
5. Operational and business systems excellence
ReNew Power has a track record of operating and maintaining its projects at high levels. It runs
robust O&M procedures across wind and solar energy projects, working with third party vendors
in the case of wind energy projects (given proprietary technology) and largely internally in the
case of solar energy projects. The company closely monitors vendor performance on projects
where it has outsourced O&M to ensure they are performing at expected generation levels.
6. Experienced professional management team and strong Board governance
ReNew Power is led by a professional management team with extensive experience in the
renewable energy industry, in-depth understanding of managing renewable energy projects and
a proven performance track record. The company’s high corporate governance standards are
monitored by independent and investor-nominated directors. Particular attention is paid
towards adhering to global anti-corruption and anti-money laundering standards and it maintains
compulsory internal training requirements and strict vendor onboarding protocols in this area.

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 Business Verticals
1. Utility Scale Wind: ReNew Power started operations with wind energy and today has the
largest portfolio in India with over 55 operational projects and cumulative capacity of over
5.7 GW (including capacity under development)
2. Utility Scale Solar: The ground mounted solar business has replicated the success of Wind
vertical in a short span of time, building up a sizeable asset base of over 7 GW (including
capacity under development)
3. Distributed Solar: Since commissioning its first project in 2015, this vertical now runs 550+
unique rooftop installations in 20 states.
ReNew India Initiative
We are committed to promoting inclusive growth and empowering communities through
education and the provision of employment opportunities. The ReNew India Initiative is focused
on three broad areas of community development, namely: Human Capital, Social Capital &
Environmental Capital, impacting over 6.5 lakh lives spread across 250+ villages in 10 states. Our
flagship community outreach programs include:
1. Lighting Lives: ensuring access to affordable electricity in villages through microgrids
2. Edu hub: an innovative rural community centre for technology aided education.
3. ReWin: socio economic empowerment program to encourage entrepreneurship amongst rural
women
4. ReSET: Scholarships to encourage young talent to pursue a sports career
Awards
Over the last seven years, ReNew Power has been conferred with almost all the major industry
awards including those given by IPPAI, IWEF, IWPA, Solar Quarter, Rooftop Solar Congress and
VCCircle. It has also been a repeat winner at the D&B Infra Awards, CII Performance Excellence
Awards besides winning the Economic Times Innovation Award and the prestigious Porter Prize for
Strategy in 2019. ReNew Power has also won marquee international awards such as Stevie
International Business Awards (Energy Entrepreneur of the Year and Energy Sector Innovation of
the Year in 2019 and Chairman Of The Year and Energy Company Of The Year in 2020); S&P Platts
Global Energy Awards (Rising Star Company of the Year in 2019 and Best CSR Program in 2020).
ReNew Power also bagged the Clean Energy Transition Award at Reuters Responsible Business
Awards 2020. In 2020, Renew also won multiple domestic and global awards for its contributions
towards COVID relief initiatives.
In addition, our founder, Mr. Sumant Sinha has won the prestigious Entrepreneur of the Year
awards from Ernst & Young as well as Forbes (2017), Economic Times (2018) & The Entrepreneur
India (2019), besides being conferred the Distinguished Alumnus Awards by Columbia SIPA (2022),
IIM Calcutta (2019) and IIT Delhi (2018). Recently, Sumant was recognized as a Global SDG Pioneer
by United Nations Global Compact and Trailblazer of the Year by S&P Global Platts.

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