It was in 2011 that Sumant Sinha set out to give wings to his idea of starting a clean energy company. As the sector was still nascent, one of the big challenges was to raise equity funding to kickstart the company’s first wind energy project. A young startup team, under Sumant’s leadership, began working out of a small office in Mumbai putting together a business plan and investor pitches.
After several rounds of meetings with various investors, the ReNew Power team bagged the confidence of Goldman Sachs that agreed to put in US$ 200 million in the entrepreneurial venture. This was one of the biggest private investment deals in the renewable energy sector in India.
In the statement issued on the announcement in September 2011, Goldman Sachs had said : –
“ReNew Power stands out as an example of Indian entrepreneurial excellence and we look forward to teaming with the management, both financially and operationally, to help the company become a leader in India’s renewable energy sector.“
The company’s wind energy project was commissioned in 2012 in the Rajkot district of Gujarat in 2011. The 25.2 MW project was inaugurated by the then Gujarat Chief Minister Mr. Narendra Modi.
COMMITMENT TO SUSTAINABILITY
Sustainability is at the core of what we do
ReNew Power is committed to leading a change in the country’s current energy portfolio by delivering cleaner and smarter energy choices and thereby reducing India’s carbon footprint. ReNew Power’s mission is to play a pivotal role in meeting India’s growing energy needs in an efficient, sustainable and socially responsible manner. The company creates value through reliable and efficient generation of non-conventional power through innovation in solar and wind power solutions.
AN ENTREPRENEUR WHO TURNED HIS VISION INTO REALITY
Sumant Sinha is the Founder, Chairman & CEO of ReNew Power Ventures Pvt. Ltd., a leading Indian renewable energy Independent Power Producer (IPP). Sumant is also the Chairman of the National Renewable Energy Committee of Confederation of Indian Industry (CII).
Sumant is a thought leader and a regular speaker at both national and international conferences and seminars. He is frequently featured as a business commentator in national print and television media.