India-based clean energy and decarbonisation solutions company ReNew Energy Global has secured US$95 million (approximately €87.4 million) in equity investment for its commercial and industrial platform, ReNew Green Energy Solutions, targeting the rapid expansion of corporate renewable power across India. The funding round is led by impact investor LeapFrog Investments, which committed US$50 million directly, with the balance from co-investors Emerging Market Climate Action Fund and Carlyle AlpInvest.

ESG News reported that ReNew Green already operates 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 more than 2 GW is already commissioned. Approximately 1.3 GW is backed by long-term agreements with global technology companies including Microsoft, Amazon, and Google.

Sumant Sinha, founder, chairman and chief executive of ReNew, said: "The C&I industry will be central to India's decarbonisation journey, and with investors like LeapFrog, we can deepen our ability to provide reliable, cost-competitive renewable power to leading businesses across sectors. This partnership helps us scale solutions that reduce emissions, strengthen energy security, and support India's industrial growth in a way that is both sustainable and inclusive."

Nakul Zaveri, global co-lead for climate investment strategy at LeapFrog Investments, said the investment exemplifies the firm's strategy of backing high-growth, scalable businesses that enable emerging markets to leapfrog to cleaner, more resilient energy systems, noting that ReNew Green is underpinned by structural tailwinds and a sustained green discount compared to grid tariffs.

India's commercial and industrial sector accounts for approximately 50 per cent of the country's total electricity consumption, yet only around 7 per cent of that demand is currently met through renewable sources.

Access the full report on ReNew's US$95 million clean energy investment round.