August 27

India’s Largest Renewable Energy Producer Is Now a $4.5 Billion Company Listed on Nasdaq

By Bhakti Makwana

Indian renewable energy company ReNew Power made it to the US exchange Nasdaq on Tuesday through a special purpose acquisition company (SPAC) route by merging with Nasdaq-listed RMG Acquisition Corp II.

ReNew Power is among the country’s leading solar and wind energy producers.

“The listing opens much wider opportunities for us to help not only India, but the world to accelerate the clean energy transition for a fossil free tomorrow,” said Ajay Tripathi, chief human resource officer of the company on Twitter.

The company reportedly said that it is fully-funded at this point in time to get to 18.5 gigawatts of fully-owned capacity by 2025.

Photo courtesy of Karsten Würth

Source: Business Insider India (link opens in a new window)

business development, renewable energy, solar