LISTING GETS US MORE GLOBAL INVESTORS

ReNew Power’s Sumant Sinha says the US listing is also an opportunity to showcase India’s opportunities in green energy.

- P.B. JAYAKUMAR

RENEW POWER HAS become India’s largest publicly traded renewable energy company, in terms of generation capacity, by combining its business with the US-based RMG Acquisition Corporation II and getting listed on the Nasdaq. Among the top 10 renewable independent power producers (IPP) globally by capacity, ReNew Power has more than 100 operational, utility-scale wind and solar energy projects in nine Indian states. It also owns and operates distributed solar energy projects for more than 150 commercial and industrial customers in India. In an exclusive interview, Sumant Sinha, Founder, Chairman, and Managing Director of ReNew Power, explains how the listing gives an opportunity to showcase India’s capabilities globally and attract leading investors to the country’s green energy space, among other things. Edited excerpts:

ReNew Power is the first major Indian renewable IPP to get listed on the Nasdaq. How will it help your expansion plans? Are you going global and what is the significance of this listing?

To make it clear, our business is in India and that will continue to be the case. We have not gone there to just go global, but to do a listing outside India to bring in many more global stakeholders. So far, we had some global investors. As part of this transaction, new investors have [come on] board as part of our shareholder base. We will continue to be an Indian company focussed on India, but our listing is outside India.