Fitch Affirms ReNew Energy Global And ReNew Private At ‘BB-’ With Stable Outlook

Fitch Ratings has reaffirmed its confidence in ReNew Energy Global Plc and ReNew Private Ltd by maintaining their long-term issuer default ratings at ‘BB-’ with a stable outlook. The decision underscores the companies’ robust position in India’s renewable energy market, supported by diversified assets and steady operational performance.  

Key highlights from the announcement include  

• Fitch affirmed ratings of ReNew Energy Global Plc and ReNew Private Ltd at ‘BB-’.  
• Stable outlook reflects consistent cash flows from long-term power purchase agreements.  
• Companies benefit from a diversified renewable portfolio across wind and solar projects.  
• High leverage and expansion-related risks remain key challenges.  
• Supportive government policies and rising demand for clean energy strengthen growth prospects.  
• Analysts note that the stable outlook indicates balanced risk-reward positioning in the sector.  

The affirmation highlights ReNew’s ability to sustain operations and manage debt while expanding its renewable footprint. With India’s clean energy sector gaining momentum, ReNew’s diversified portfolio and long-term contracts provide resilience, positioning the company to capitalize on the country’s ambitious renewable energy targets.  

Sources: Fitch Ratings, Economic Times, Business Standard