ReNew Energy Global Boosts Capacity and Doubles EBITDA Guidance After Masdar Exit

Introduction

RENEW ENERGY GLOBAL PLC (Nasdaq: RNW) is an Indian clean-energy company founded in 2011 by Sumant Sinha. Headquartered in Gurugram, Haryana, the company rebranded from ReNew Power to ReNew in February 2023. It develops, builds, and operates utility-scale wind and solar projects, green hydrogen facilities, energy-storage solutions, and related decarbonization services across ten Indian states.

Corporate Structure

With between 1,001 and 5,000 employees, ReNew combines in-house manufacturing capabilities with project development, financing, and operations. The board and executive team emphasize environmental, social, and governance (ESG) standards, digital innovation, and community engagement. The company’s major investors include the Canada Pension Plan Investment Board (CPPIB), which holds 34.6% of Class A shares, and the Abu Dhabi Investment Authority (ADIA) with 23.8%, according to Schedule 13D/A filings as of December 15, 2025.

Renewable Energy by Karsten Würth

Developments and News

On December 15, 2025, ReNew filed a Form 6-K reporting a 22% year-over-year increase in commissioned capacity and a 24% rise in adjusted EBITDA. In response to stronger manufacturing performance, the full-year guidance for adjusted EBITDA was raised from INR 5–7 billion to INR 10–12 billion. The same filing disclosed that Masdar withdrew from a proposed consortium seeking to acquire remaining shares, and ReNew scheduled an investor call for December 16, 2025.
In 2025, ReNew received the Corporate Impact Award—Comprehensive Portfolio at the Platts Global Energy Awards, recognizing its community-driven climate initiatives.

Financial and Strategic Analysis

The company’s operational metrics indicate growth in renewable capacity, supported by manufacturing output. The upgraded guidance targets nearly double the previously forecast EBITDA range. Despite the withdrawal of Abu Dhabi Future Energy Company PJSC-Masdar from the acquisition consortium, ReNew’s leadership has indicated focus on expansion in India’s electricity market. Ownership stakes held by CPPIB and ADIA may influence strategic direction and governance practices.

Market Position and Industry Context

ReNew was the first Indian renewable energy firm listed on Nasdaq (August 24, 2021). It operates over 150 wind and solar sites, contributing approximately 1.9% of India’s installed power capacity and the country’s largest wind portfolio at 4.7 GW. Its combined commissioned and pipeline capacity exceeds 28 GW. The World Economic Forum recognized ReNew as a Lighthouse company in 2020, and the MIT Technology Review listed it among the Top 15 Climate Tech Companies to Watch in 2023. Awards such as the Terra Carta Seal and COP28’s Energy Transition Changemaker highlight its role in the energy transition.

Metric	Value
Close Price (December 15, 2025)	$5.57
Daily Change	–26.23%
Volume	1,157,776 shares
Adjusted EBITDA Guidance	INR 10–12 billion (FY 2026)
Commissioned Capacity Growth	+22% y/y

tl;dr

On December 15, 2025, ReNew Energy Global reported a 22% growth in commissioned capacity and raised its full-year adjusted EBITDA guidance to INR 10–12 billion. Masdar withdrew from a planned consortium acquisition, prompting a management-hosted investor call on December 16, 2025. Major shareholders CPPIB (34.6%) and ADIA (23.8%) maintain significant influence over governance and capital strategy.