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ReNew Energy Global ( (RNW) ) has provided an update.
On March 24, 2026, ReNew Energy Global announced it had agreed to sell its 100 MW/117.5 MWp solar project in Tamil Nadu, held via ReNew Solar Energy (Rajasthan) Private Limited, to Technique Solaire Group at an enterprise value of about $49 million, under a definitive agreement signed March 23, 2026. The sale, to JLT Energy 9, the India-focused investment arm and wholly owned subsidiary of France’s JLT Invest, is expected to close after customary conditions and generate roughly $24 million in cash inflow for ReNew, signaling a capital-recycling move from its only commissioned project in Tamil Nadu, which has been operating since September 2019 under a 25-year PPA with TANGEDCO and delivered a net PLF of 18.55% in 2024–25.
The Tamil Nadu solar asset, commissioned in September 2019 and contracted at a fixed tariff of INR 3.47 per unit under a 25-year power purchase agreement with state utility TANGEDCO, has been revenue-generating for more than six years. By monetizing this mature, single-state asset while retaining a large national portfolio, ReNew appears to be optimizing its project mix and strengthening its balance sheet, which may support redeployment of capital into higher-growth or strategically aligned decarbonization and manufacturing initiatives across India.
The most recent analyst rating on (RNW) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on ReNew Energy Global stock, see the RNW Stock Forecast page.
Spark’s Take on RNW Stock
According to Spark, TipRanks’ AI Analyst, RNW is a Neutral.
The score is driven by improving operations and a constructive earnings update (raised guidance, refinancing progress, and capital recycling), but tempered by high leverage and negative free cash flow that increase funding risk. Technicals add pressure due to a clear downtrend, while valuation is moderately supportive based on the P/E.
To see Spark’s full report on RNW stock, click here.
More about ReNew Energy Global
ReNew Energy Global is a leading decarbonization solutions company and major independent power producer in India, listed on Nasdaq, with a clean energy portfolio of about 19.2 GW, including 1.5 GW of battery energy storage systems, as of February 12, 2026. The company provides end-to-end offerings in clean power, digitalized value-added energy services, storage, carbon markets, and operates large-scale solar module and cell manufacturing capacity, with ongoing expansion of its solar cell production.
Average Trading Volume: 830,373
Technical Sentiment Signal: Sell
Current Market Cap: $1.8B
For detailed information about RNW stock, go to TipRanks’ Stock Analysis page.