Guragaon, India : ReNew (NASDAQ: RNW)announced today that it has been named to the prestigious FORTUNE 2021 “Change the Worldlist. The annual list recognizes leading business that exemplify power of capitalism to improve human condition by addressing important social or environment impact through their core profit making strategy and operations. ReNew has been ranked 10th for its work in combating climate change and for the daunting task of building an alternative to fossil fuels in a nation that is world’s third largest oil importer.
Speaking about the recognition, Sumant Sinha – Founder, Chairman, and CEO of ReNew Power said, It is really heartening to see ReNew’s name among the top 10 companies that are bringing about a positive change in the world. This recognition by Fortune is not only a matter of immense pride for ReNew but also for all those who are striving to contain the impact of climate change and protect communities from its adverse fallout. As a company at the vanguard of India’s clean energy transition, ReNew will continue to work towards a cleaner and greener world.
Every year Fortune Magazine identifies new companies that have made measurable impact on some of the most pressing social and environment issues globally. Eligible businesses, academic institutions and nonprofit organizations are nominated and ranked based on four key criteria, including, measurable reach of the company’s impact on one or more specific societal challenges; the profitability and business results that the impactful work brings to the company; innovations the business has developed to expand impact; and how integral socially impactful initiatives or strategies are to the company’s overall business approach.
This is the 7th successive year that the Fortune Magazine has brought this list. The 2021 list has 52 companies which include US and UK giants such as Walmart, HP Inc, AirBnB, Lego Group, and wind turbine maker Vestas. The 2020 list included Serum Institute of India, India’s largest vaccine maker.
ReNew is one of the largest renewable energy Independent Power Producers (IPPs) in India and globally. ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects, hydro projects and distributed solar energy projects. As of August 31, 2021, ReNew had a total capacity of approximately 10.2 GW of renewable energy projects across India including commissioned and committed projects. In the past twelve months ReNew has completed its listing on NASDAQ and raised US$ 1.2 bn from investors demonstrating strong support for its business model.