LeapFrog consortium invests $95M in ReNew Green (Nasdaq: RNW)

Rhea-AI Filing Summary

ReNew Energy Global Plc reports that a consortium of investors led by LeapFrog Investments has completed an equity investment into its commercial and industrial subsidiary, ReNew Green Energy Solutions Private Limited. The consortium is providing ~INR 8.83 billion (about US$95 million) in exchange for an 11.3% shareholding in ReNew Green.

ReNew Green has one of India’s largest clean energy portfolios for commercial and industrial customers, with 2.5 GW of committed capacity across multiple states, of which over 2.0 GW is already commissioned. Within this, around 1.3 GW is backed by long-term agreements with major global technology companies including Microsoft, Amazon, and Google.

Insights

Renewable infrastructure analyst

LeapFrog leads a $95M strategic investment into ReNew’s C&I unit, validating its large contracted portfolio.

The investment consortium led by LeapFrog Investments is injecting ~US$95 million (about INR 8.83 billion) for an 11.3% stake in ReNew Green, ReNew’s commercial and industrial clean energy platform. This brings third-party capital into a ring‑fenced, high‑growth subsidiary rather than the listed parent directly.

ReNew Green’s scale is notable, with 2.5 GW of committed capacity and over 2.0 GW already commissioned for corporate customers across India. Around 1.3 GW is tied to long-term agreements with Microsoft, Amazon, and Google, suggesting relatively stable offtake. Actual financial impact for ReNew shareholders will depend on how proceeds are deployed within the C&I platform and any future ownership changes.

Key Figures

Investment proceeds: INR 8.83 billion Investment proceeds (USD): US$95 million Stake acquired in ReNew Green: 11.3% +4 more

7 metrics

Investment proceeds INR 8.83 billion Equity investment into ReNew Green by LeapFrog-led consortium

Investment proceeds (USD) US$95 million Approximate value of LeapFrog-led consortium investment using stated forex rate

Stake acquired in ReNew Green 11.3% Equity shareholding obtained by the investor consortium

ReNew Green committed capacity 2.5 GW Clean energy capacity committed for commercial & industrial customers

ReNew Green commissioned capacity Over 2.0 GW Portion of C&I portfolio already commissioned and operational

Long-term contracted capacity with tech majors About 1.3 GW Capacity under long-term agreements with Microsoft, Amazon, and Google

Total clean energy portfolio 19.2 GW ReNew’s gross clean energy portfolio as of February 12, 2026

Key Terms

commercial and industrial, committed capacity, long-term agreements, battery energy storage systems (BESS), +2 more

6 terms

commercial and industrial financial

"ReNew Green's portfolio is among India's largest clean energy portfolios for commercial & industrial customers"

committed capacity financial

"with 2.5 GW** of committed capacity across multiple states"

long-term agreements financial

"Within this, ~1.3 GW has long-term agreements with global technology leaders"

Long-term agreements are multi-year commitments between businesses or between a business and a customer or supplier that set binding terms for pricing, delivery, services or other ongoing obligations. Like a long-term lease or multi-year subscription, they give predictable revenue or costs and reduce short-term uncertainty, which helps investors assess future earnings and risk, while also creating ongoing obligations that can limit a company’s flexibility.

battery energy storage systems (BESS) technical

"ReNew’s clean energy portfolio of ~19.2 GW (including 1.5 GW of BESS)"

Battery energy storage systems (BESS) are large installations that store electricity in batteries and release it when needed, like a giant rechargeable battery for the power grid. They matter to investors because they help smooth out supply and demand, support more renewable energy, and create new revenue streams (selling stored power, providing backup and stability), which can change utility costs, business models, and the value of energy-related companies.

independent power producer financial

"In addition to being a major independent power producer in India"

An independent power producer is a company or entity that generates electricity and sells it to utilities or directly to consumers, operating separately from government-owned or utility-controlled power plants. This type of producer often builds and manages power facilities to meet market demand, offering more options and competition in energy supply. For investors, independent power producers can provide opportunities for profit through the sale of electricity in a competitive market.

decarbonization solutions company financial

"ReNew is a leading decarbonization solutions company listed on Nasdaq"

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Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2026

Commission File Number: 001-40752

RENEW ENERGY GLOBAL PLC

(Translation of registrant’s name into English)

C/O Vistra (UK) Ltd, Suite 3, 7th Floor

50, Broadway, London, England, SW1H 0DB, United Kingdom

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Other events

On April 2, 2026, ReNew Energy Global Plc ("ReNew") announced that its commercial and industrial platform, ReNew Green Energy Solutions Private Limited (“ReNew Green”) has received the proceeds from the consortium of investors led by LeapFrog Investments (“LeapFrog”), which was announced on March 16, 2026. The investment proceeds are ~INR 8.83 billion* (US$95 million) and the consortium will acquire 11.3% shareholding in ReNew Green.

ReNew Green's portfolio is among India's largest clean energy portfolios for commercial & industrial customers with 2.5 GW** of committed capacity across multiple states. Of this, over 2.0 GW** is already commissioned. Within this, ~1.3 GW has long-term agreements with global technology leaders such as Microsoft, Amazon, and Google.

*based on a forex rate of USD 1 = INR 92.92

** ReNew's C&I platform has an additional 0.2 GW which does not form a part of this transaction

Forward Looking Statements

This release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “objective,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “milestone,” “designed to,” “proposed” or other similar expressions that predict or imply future events, trends, terms and/or conditions or that are not statements of historical matters. Such forward-looking statements are based on current expectations and projections about future events and various assumptions. The Company cautions readers of this release that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control, that could cause the actual results to differ materially from the expected results.

The Company’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) or Form 6-Ks furnished to the SEC by the Company outline certain of these risks and uncertainties which may cause actual results to differ. Forward-looking statements should be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking (except as required by applicable law) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

About ReNew

ReNew is a leading decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew’s clean energy portfolio of ~19.2 GW (including 1.5 GW of BESS) on a gross basis as of February 12, 2026, is one of the largest globally. In addition to being a major independent power producer in India, we provide end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that are increasingly integral to addressing climate change. In addition, ReNew has 6.5 GW of solar module and 2.5 GW of solar cell manufacturing capacity and is expanding its solar cells manufacturing by 4 GW. For more information, visit www.renew.com and follow us on LinkedIn, Facebook, X, and Instagram.

Press Enquiries

pr@renew.com

Investor Enquiries
Anunay Shahi
Nitin Vaid
ir@renew.com

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: April 2, 2026	RENEW ENERGY GLOBAL PLC
	By:	/s/ Kailash Vaswani
	Name:	Kailash Vaswani
	Title:	Chief Financial Officer

FAQ

What investment did LeapFrog make in ReNew Energy’s C&I platform (RNW)?

A LeapFrog-led consortium invested about US$95 million (~INR 8.83 billion) into ReNew’s commercial and industrial subsidiary, ReNew Green. In return, the consortium will acquire an 11.3% shareholding in ReNew Green, bringing external growth capital into this business.

How large is ReNew Green’s clean energy portfolio for industrial customers?

ReNew Green’s portfolio includes about 2.5 GW of committed capacity for commercial and industrial customers across multiple Indian states. More than 2.0 GW of this capacity is already commissioned and operational, demonstrating significant execution progress in this segment.

Which major technology companies have long-term agreements with ReNew Green (RNW)?

ReNew Green has around 1.3 GW of capacity under long-term agreements with global technology leaders including Microsoft, Amazon, and Google. These contracts provide visibility on power offtake from a diversified set of high-quality corporate customers.

How big is ReNew Energy Global’s overall clean energy portfolio?

ReNew Energy Global’s total clean energy portfolio is about 19.2 GW on a gross basis as of February 12, 2026. This includes 1.5 GW of battery energy storage systems (BESS), making it one of the larger renewable platforms globally by capacity.

What manufacturing capabilities does ReNew Energy Global (RNW) have?

ReNew Energy Global operates 6.5 GW of solar module manufacturing capacity and 2.5 GW of solar cell capacity. The company is also expanding its solar cell manufacturing by an additional 4 GW, supporting its integrated clean energy strategy.

Is all of ReNew’s C&I capacity included in the LeapFrog-led transaction?

No. The company notes that its commercial and industrial platform has an additional 0.2 GW of capacity that is not part of this transaction. The ~2.5 GW of committed capacity figure is used to describe the broader C&I portfolio.