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ReNew Secures Rs840 Cr from British International Investment to Boost Solar Manufacturing

ReNew, a leading decarbonisation solutions provider, has received a landmark investment of Rs840 crore from British International Investment (BII)—the UK’s development finance institution—to accelerate the expansion of its solar manufacturing business in India. This marks BII’s first-ever investment in India’s solar manufacturing sector.

The capital will be infused into ReNew Photovoltaics Private Ltd., through which BII will acquire a minority stake. The funding aims to enhance domestic solar component production and is expected to generate over 2,000 new jobs.

Sumant Sinha, CEO of ReNew, said the move into manufacturing was a “strategic decision” to secure supply chains. Shilpa Kumar, MD and Head of India at BII, expressed optimism about the collaboration, citing its potential for driving clean energy adoption and employment.

The investment signifies growing global confidence in India’s solar manufacturing ecosystem and ReNew’s critical role in supporting the country's renewable energy goals.