New Delhi: Clean-energy firm ReNew on Monday said ReNew Green Energy Solutions Private Limited (ReNew Green) has secured a USD 95-million equity investment (around Rs 878 crore) from a consortium led by LeapFrog Investments. ReNew said the proceeds will be used “to expand its commercial and industrial platform,” and that the investment is “led by LeapFrog Investments, which has directly committed USD 50 million, with the balance from co-investors Emerging Market Climate Action Fund and Carlyle AlpInvest.” The company said the consortium will join ReNew’s existing institutional investor base that includes the Canadian Pension Plan Investment Board, Abu Dhabi Investment Authority (ADIA) and British International Investment.
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ReNew said LeapFrog will apply its proprietary impact measurement framework over the holding period, analysing dimensions such as “emissions avoided, jobs created and enforcement of enterprise-level governance and sustainability practices.” The statement positioned the transaction as both a capital raise and an alignment with impact-oriented investor metrics.
The company said the USD 95 million will be deployed to deepen ReNew Green’s commercial and industrial (C&I) offerings. ReNew Green, the company added, “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 the committed portfolio, over 2.0 GW is already commissioned, and within that commissioned capacity 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 said 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 noted that electricity consumption from India’s commercial and industrial sector accounts for 50 percent of the country's total consumption, and said that figure is expected to grow significantly in the years ahead. The company framed the investment as timely capital to capture rising corporate demand for renewable power and to expand its portfolio of long-term offtake contracts.
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The infusion from a LeapFrog-led consortium strengthens ReNew’s institutional investor base and brings an explicit impact-measurement overlay to its C&I strategy. For corporate buyers seeking long-term renewable supply, the deal signals continued investor appetite for scale-up capital in rooftop, captive and open-access renewable projects tied to large industrial and technology customers.