A consortium of three investors led by LeapFrog Investments, Emerging Market Climate Action Fund, and Carlyle AlpInvest has picked up a combined stake of approximately 11.3% in ReNew Green Energy Solutions, the commercial and industrial (C&I) platform of ReNew Energy Global.

LeapFrog led the investment round, committing $50 million.

Sumant Sinha, Founder, Chairman, and CEO at ReNew, said, “This partnership (with LeapFrog) helps us scale solutions that reduce emissions and strengthen energy security.”

ReNew Green’s portfolio includes 2.5 GW of committed renewable energy capacity across multiple states, with 2 GW already commissioned. The company has long-term energy supply agreements of approximately 1.3 GW with major global technology corporations. It has an additional 200 MW, which does not form part of this transaction.

As of February 2026, ReNew Energy has a clean energy portfolio of approximately 19.2 GW, including 1.5 GW of battery energy storage systems (BESS). The company has a solar module and cell manufacturing capacity of 6.5 GW and 2.5 GW, respectively. It is expanding its solar cell manufacturing capacity by 4 GW.

Last December, ReNew signed a long-term agreement with Google to enable the development of a 150 MW solar project in Rajasthan. Google will procure the project’s energy attributes from ReNew. The solar project is scheduled for commissioning in 2026. It is expected to generate approximately 425,000 MWh of clean electricity annually.

In November, ReNew announced plans to invest approximately ₹600 billion (~$6.76 billion) to set up multiple green energy projects in Andhra Pradesh, including a 6 GW solar ingot-wafer manufacturing plant, a 2 GW pumped hydro project, a 3,000 kilotons-per-annum green ammonia facility, and 5 GW of hybrid renewable energy projects, comprising wind, solar, and solar-BESS.

The company secured $331 million in debt financing from the Asian Development Bank that same month to support the development of a large-scale clean energy project in Andhra Pradesh.

ReNew posted a total revenue of ₹31.37 billion (~$345.79 million) in the third quarter of the financial year 2026, a 48% year-over-year increase from ₹21.19 billion (~$233.57 million).