Our First Annual Integrated Report

Innovating Clean Energy Solutions

Sustainably

As we advance towards a sustainable energy future, we remain committed to enhancing our current environmental actions through our net-zero pledge and responsible resource use. Read More

Equitably

Our over a decade-long operational journey is characterized by people-powered excellence. We foster a diverse and inclusive workplace that prioritizes employee safety. Our commitment to equitable growth extends beyond our organization, driving positive change in our communities. Read More

Responsibly

We uphold best practices in corporate governance to ensure ethical and responsible business conduct. As frontrunners in the industry, we also advocate for policies that enhance industry sustainability and progress. Read More

A Year of Inspired Achievements

Key Performance Highlights FY 2023-24

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13.5 GW

Clean energy portfolio as of March 31, 2024
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16,000+

Solar modules per day production capacity at our first solar manufacturing facility in Jaipur, Rajasthan
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8 GW

of Auctions Won
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374.2 km/ckt

Transmission lines erected
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INR 96.5 billion

Total Income
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INR 69.2 billion

Adjusted EBIDTA
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INR 4.1 billion

Profit After Tax(PAT)
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16 million tC02e

of GHG emissions avoided (14% YoY increase)
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358,746 m3

of water saved (13% YoY increase)
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41%

of electricity sourced from clean sources
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475,000+

Lives positively impacted through socioeconomic programs
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INR 240 million

CSR expenditure
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14%

Gender Diversity Rate within our Workforce
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10%

Women representation in STEM roles
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0.22

Lost-Time Injury Frequency Rate (LTIFR)
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40%

Gender diversity at the Board level
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60%

Independent directors on the Board

Ratings and Disclosures FY 2023-24

sp-global

Increase in S&P CSA score to 55 in FY 2023-24 from a score of 41 in FY 2022-23

cdp

Maintained ‘B’ Rating in CDP Climate Change and ‘A-’ Rating & Leadership Band in CDP Supplier Engagement Rating (SER) in FY 2023-24

refinitiv

Received a score of 79.25/100: Best among all Electric Utilities & IPP corporates in India

refinitiv

ReNew’s MSCI rating is ‘AA’ and it places the company among the Industry Leaders category

refinitiv

Included in the recently released 2024 Top-Rated ESG Companies List by Morningstar Sustainalytics. Awarded a low risk ESG rating of 11.6.

co-founder

Reflections from the Founder, Chairman and CEO

Our Journey Towards 10+GW

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FY 2023-24 marked our growth with a reported profit of INR 4.1 billion. This significant milestone showcases our inherent cash-generation capability.

Sumant Sinha

Founder, Chairman and CEO

Read More

Key Milestones FY 2023-24

  • ReNew and Gentari announced strategic collaboration for 5 GW Renewable energy capacity in India

    ReNew ranked among top renewable Power & Utility companies globally as per Sustainalytics

    ReNew raised US$ 400 million through Issuance of Green Bonds

    ReNew to decarbonise Mobility and Mining in Karnataka

  • ReNew Signed MoUs for INR 640 billion (~US$ 7.8 billion) for Green Energy Projects

    ReNew announces Clinton Global Initiative commitment to Business-Driven clean energy and education in India

    LEED True Zero Waste platinum certification for our corporate office, ReNew.Hub, Gurugram

    • USISPF, ReNew and the Consulate General of India brought together Business and Government Leaders to discuss U.S.-India climate partnership
    • ReNew awarded with GRIHA 5-star rating for corporate office

  • ReNew recognised in Top 15 Climate Tech Companies to Watch

    ReNew’s CSR Initiatives Positively Support 1 million Lives pan India

    ReNew was awarded the Sustainable Markets Initiative’s 2023 Terra Carta Seal

    • ReNew successfully commissions its First Interstate Transmission Scheme (ISTS) project following investment from Norfund and KLP
    • ReNew Signed MoU with Asian Development Bank for INR 439.12 billion

    COP28 Presidency Recognised ReNew as Clean Energy Transition Changemaker, for its work on the Round-the-Clock Power Project

    • ReNew was awarded WEF’s 4IR Lighthouse Award
    • Harvard Business School publishes a second case study about ReNew
    • ReNew refinanced INR 26.9 billion debt three months ahead of maturity
    • ReNew got certified as Great Place to Work for the fourth time
    • ReNew received Ambition Box Employee Choice Award 2024
    • ReNew announced its first profitable year since its launch on Nasdaq, recording a profit of INR 4.1 billion
    • ReNew crossed 10 GW of Gross Renewable Energy Assets
    • ReNew partnered with JERA to evaluate Joint Development of Green Ammonia Project in India
  • Quarter 1
  • Quarter 2
  • Quarter 3
  • Quarter 4
co-founder

Reflections from the
Co-Founder, Chairperson Sustainability

Our dedication to sustainability, transparency, and accountability

double-quote

We have committed to net-zero goal by 2040, validated by SBTi, making us one of the first pure-play renewable energy companies to receive this recognition.

Vaishali Nigam Sinha

Co-founder ReNew, Chairperson, Sustainability

Read More

Our Pledge to a Sustainable Future

ReNew’s Sustainability Targets to Responsible Transformation

environment
social
goverance
Achieved
In Progress

Reflections from the Chief Financial Officer

Our company has continued to solidify our global leadership in the renewable energy sector, delivering outstanding financial results and ensuring long-term growth. Our clean energy portfolio as of May, 2024 stands at an impressive 15.6 GW, making it India’s largest in wind energy and the second largest in solar.

Read More

Kailash Vaswani

Chief Financial Officer

Reflections from the Chairperson, ESG Committee

As a pioneer in sustainability, ReNew has consistently driven efforts to positively impact people, the planet, and business. Through a sustainable business model, the company remains dedicated to generating long-term value for its diverse set of stakeholders equitably and responsibly.

Read More

Sir Sumantra Chakrabarti

Chairperson, ESG Committee, ReNew Energy Global PLC

Decarboni­sation at ReNew

First Company in India's renewable energy sector to have our net-zero targets validated by SBTi.

Commitment to reach net-zero GHG emissions across our value chain by 2040.

decarbonisation

Double Materiality Assessment

In line with our ambition to enhance sustainability, transparent & comprehensive disclosure and aligned with the various reporting standards, we have conducted our first Double Materiality Assessment in FY 2023-24.
Materiality

  • 1 Business Ethics
  • 2 Climate Changes
  • 3 Policy Advocacy & Thought Leadership
  • 4 Health & Safety
  • 5 Employee Engagement & Development
  • 6 Community Engagement
  • 7 Compliance Management
  • 8 Innovation & Digitisation
  • 9 Risk Management
  • 10 Energy Management
  • 11 Sustainable Supply Chain
  • 12 Human Rights
  • 13 Waste Management
  • 14 Water Management
  • 15 Biodiversity Conservation
  • 16 Diversity & Inclusion
  • 17 GHG Management
  • Read More

Value Creation Model

value-creation

Integrated Thinking at ReNew

Our Capitals

manufactured

MANUFACTURED

CAPITAL

Shaping the Future of Energy

13.5 GW

Clean Energy Portfolio on a Gross Basis

9.5 GW

of Operational Capacity

Read More
human captital

HUMAN

CAPITAL

Building an Inclusive Workforce

3,900+

Strong workforce

14%

Gender Diversity Rate within our Workforce

Read More
Natural

NATURAL

CAPITAL

Nurturing Nature

Carbon Neutrality

for Scope 1 and Scope 2 emissions achieved for the fourth consecutive year

16 Million Tonnes

of CO2e emissions avoided

Read More
Natural

SOCIAL

CAPITAL

Driving Equitable Societal Transformation

INR 240 Million

Total CSR Spent

475,000+

Lives Impacted

Read More
social

RELATIONSHIP

CAPITAL

Synergising for Sustainability

100%

Critical Suppliers Assessed against ESG Aspects

4.64 out of 5

Customer Satisfaction Score

Read More

INTELLECTUAL

CAPITAL

Unleashing Innovation for Sustainable Growth

INR 140 million

Total amount spent on R&D

31%

Increase in site employees’ efficiency in maintenance activities

Read More
financial

Financial

Capital

Striving for Advancements that Deliver Value

INR 4.1 Billion

Profit After Tax (PAT)

~8.2 GW

of Bids Won

Read More

We are among first few Indian companies in the renewable sector to align with EU Taxonomy

Case Studies

nature-based

Nature-based Solutions

Agro-forestry projects aimed to enhance environmental protection and create sustainable income for local communities
Leading the Way

Leading the Way, Women in Charge

An all-women security force operates round the clock at one of our solar operations and maintenance sites in Karnataka
Transitioning

Transitioning to Electric Vehicles

Converted one of our sites in Rajasthan to use 100% electric vehicles (EVs)
Empowering

Empowering Climate Stewards

Shaukat Khan’s Story from Climate Awareness to Climate Action
Breaking Barriers

Breaking Barriers and Perceptions

Addressing Intermittency by collaborating with the government to contribute towards the ‘Round-theClock’ (RTC)

Trendsetters in

Trendsetters in Green Innovation

ReNew Centre for Excellence (CoE) - One of the first world class research and development facilities to advance cutting-edge renewable solutions in the Indian context.
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