ReNew Power Ventures has doubled its power generation capacity in a single year to cross 2000 MW. According to an official statement, the company has made investments of ₹ 6,700 crore to add 430 MW of solar and 626 MW of wind capacity in financial year 2016-2017. In February 2017, the company raised ₹ 3,100 crore through issuance of rupee denominated bonds (Masala Bonds) to an overseas Special Purpose Vehicle.
Chairman and CEO, ReNew Power, Sumant Sinha, stated that the company aims to contribute 10 per cent to the government’s clean energy growth targets. The company has been financed by Goldman Sachs and Global Environment Fund in the US; Abu Dhabi Investment Authority (ADIA) in West Asia; and Asian Development Bank and JERA from Asia.