ReNew has signed a memorandum of understanding (MoU) with the Government of Odisha to develop a 1,500 MW hydro pumped storage project (PSP) at Putabali in Ganjam district in Odisha. The project involves an estimated investment of Rs 90 billion and forms part of the company’s broader investment plan of approximately Rs 450 billion in the state. It is expected to strengthen Odisha’s energy storage capacity, improve grid flexibility and support the integration of renewable energy by enabling surplus solar and wind power to be stored and dispatched during peak demand periods.
Earlier, in October 2026, ReNew secured a $100 million financing facility for a 10-year tenor from the Dutch development bank FMO. The facility has been extended to ReNew Solar Power Private Limited under the voluntary retention route and will support renewable energy projects under construction across the ReNew group.
In August 2026, ReNew announced the financial results for the first quarter (Q1) of financial year (FY) 2026-27. The company reported total revenue of Rs 47,864 million in Q1 FY 2026-27, registering a 16.2 per cent year-on-year (YoY) increase, compared to Rs 41,182 million in Q1 FY 2025-26. Net profit stood at Rs 5,953 million, reflecting a 16 per cent YoY growth from Rs 5,131 million, while adjusted earnings before interest, taxes, depreciation, and amortisation reached Rs 30,392 million, up 11.6 per cent YoY from Rs 27,220 million.