LeapFrog Investments, with co-investors Emerging Market Climate Action Fund and Carlyle AlpInvest invested $ 95 million in ReNew Green Energy Solutions, the commerical and industrial platform of ReNew Energy Global. LeapFrog , Profit with Purpose investor, committed $50 million in the deal. The deal values ReNew Green about 7800 crore.

ReNew Green’s portfolio is among the country’s largest clean energy portfolios for commercial and industrial (C&I) 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.

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What did Sumant Sinha say?

Sumant Sinha, Founder, Chairman & CEO, ReNew said, “The C&I industry will be central to India’s decarbonization 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, LeapFrog Investments said, “This investment exemplifies LeapFrog’s climate strategy of backing high-growth, scalable businesses that enable emerging markets to leapfrog to cleaner, more resilient energy systems.

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Future pathway for ReNew Green

ReNew Green addresses a clear and rapidly growing demand for reliable renewable energy solutions among commercial and industrial customers, underpinned by structural tailwinds and a sustained green discount compared to grid tariffs. We believe this platform can deliver strong commercial performance while driving meaningful emissions reduction and job creation at scale.”

Electricity consumption from India’s C&I sector is ~50% of the country’s total consumption according to government data. Currently the sector accounts for ~920 million tCo2e (tonnes of carbon dioxide equivalent) and by 2050, this figure is set to grow to more than ~5 billion tCo2e as per estimates by IEA and BNEF.

Only 7% of electricity consumed by the C&I sector currently comes from renewable sources, as per Central Electricity Authority of India data.