Indian renewable energy developer ReNew has received a non-binding final acquisition offer from a consortium comprising Abu Dhabi Future Energy Company PJSC-Masdar, the Canada Pension Plan (CPP) Investment Board, Platinum Hawk and ReNew CEO Sumant Sinha.
The consortium has made a final offer to buy the rest of Gurugram, India-headquartered company’s shares for US$8.00 each in cash. This is 13.2% more than its earlier offer from December 2024. The new offer is also 26.2% higher than ReNew’s share price at the time of the first bid and 38.9% above the average price over the previous month. Previously, the members of the consortium offered US$7.07 per share.
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The board of directors of ReNew has created a special committee to consider the proposal. The committee, led by ReNew’s lead independent director Manoj Singh, consists of six independent non-executive directors.
According to the company, the committee is evaluating the final non-binding offer along with ReNew’s independent financial advisor Rothschild & Co and independent legal counsel Linklaters LLP. ReNew Power did not respond when contacted for comment by this publication.
For the financial year 2025, the company reported net profit of INR3,137 million (US$37 million), while the EBTIDA stood at INR22,118 million (US$259 million), as against INR16,810 million (US$197 million) in the fourth quarter of 2024.
As of March 2025, the ReNew’s total renewable energy portfolio stood at 18.5GW, of which over 1.1GW is battery energy storage system (BESS). The company has signed power purchase agreements worth 1.2GW and has 6.5GW of solar module manufacturing and 2.5GW of cell manufacturing.
