Stock Analysis & Valuation ReNew Energy Global plc (RNWWW)

• Previous Close: $0.01
• Sector Valuation Confidence Level: Moderate

Valuation method	Value, $	Upside, %
Artificial intelligence (AI)	31.90	540578
Intrinsic value (DCF)	15781.09	267476002
Graham-Dodd Method		n/a
Graham Formula		n/a

Strategic Investment Analysis

Company Overview

ReNew Energy Global plc (NASDAQ: RNWWW) is a leading renewable energy company focused on utility-scale wind and solar power generation in India. Founded in 2011 and headquartered in London, the company develops, builds, owns, and operates renewable energy projects, including wind, solar, hydro, and distributed solar solutions for commercial and industrial customers. ReNew Energy also provides engineering, procurement, and construction (EPC) services, operation and maintenance (O&M) support, and consultancy services while trading renewable energy certificates. As India accelerates its transition to clean energy, ReNew Energy plays a pivotal role in the country's renewable utilities sector, contributing to sustainable power generation and grid stability. With a strong project pipeline and strategic partnerships, the company is well-positioned to capitalize on India's growing demand for renewable energy solutions.

Investment Summary

ReNew Energy Global presents a compelling investment opportunity in India's rapidly expanding renewable energy market, supported by favorable government policies and increasing energy demand. The company's diversified portfolio of wind and solar assets, along with its strong EPC and O&M capabilities, provides stable cash flows and long-term growth potential. However, risks include high leverage (total debt of ~$655.7 billion INR) and exposure to regulatory changes in India's renewable energy sector. The company's ability to refinance debt and execute new projects efficiently will be critical to sustaining profitability. Investors should weigh the growth prospects against financial risks, particularly given the capital-intensive nature of renewable energy projects.

Competitive Analysis

ReNew Energy Global holds a strong competitive position in India's renewable energy sector due to its early-mover advantage, diversified project portfolio, and integrated business model combining development, construction, and operations. The company benefits from India's ambitious renewable energy targets, including 500 GW of non-fossil fuel capacity by 2030. Its competitive strengths include a large-scale operational footprint, long-term power purchase agreements (PPAs) with state utilities, and expertise in both wind and solar energy. However, competition is intensifying with the entry of global players and domestic conglomerates expanding into renewables. ReNew's ability to secure low-cost financing and maintain cost efficiency in project execution will be crucial in sustaining its market leadership. The company's focus on utility-scale projects differentiates it from smaller distributed solar players, but it faces pricing pressure in auctions and must continuously innovate to maintain margins.

Major Competitors

• Tata Power Company Limited (TATA POWER.NS): Tata Power is one of India's largest integrated power companies with a growing renewable portfolio. Its strengths include strong brand recognition, diversified energy mix (thermal, hydro, solar, wind), and financial backing from the Tata Group. However, its legacy thermal assets may face transition risks as India shifts toward renewables. Compared to ReNew, Tata Power has a more balanced generation mix but may lag in pure-play renewable growth.
• Adani Green Energy Limited (ADANI GREEN.NS): Adani Green is a formidable competitor with aggressive expansion plans and backing from the Adani Group. It benefits from large-scale project execution capabilities and access to capital. However, its high leverage and corporate governance concerns pose risks. Adani Green's scale and ambition make it a direct competitor to ReNew in renewable auctions and project development.
• JSW Energy Limited (JSW ENERGY.NS): JSW Energy is transitioning from thermal to renewable energy with a focus on sustainability. Its strengths include strong operational efficiency and a healthy balance sheet. However, its renewable portfolio is smaller than ReNew's, and its growth depends on successful execution of its green energy transition strategy.
• NTPC Limited (NTPC.NS): NTPC is India's largest power utility with a growing renewable segment. Its advantages include government backing and massive scale, but its slow transition from coal-based generation may hinder its competitiveness in renewables compared to pure-play companies like ReNew.