ReNew Reports Surge in Profit on Module Sales Boom
ReNew, India’s largest independent renewable power producer, has reported a staggering 1,202 per cent year-on-year increase in net profit for Q1 FY2026, powered by a surge in solar module sales. The company, which has traditionally focused on generation, is reaping rewards from its vertical integration strategy.
Revenue growth was driven by its new manufacturing arm, which has scaled rapidly on the back of India’s push to build domestic module capacity. By selling modules both for its own projects and to third parties, ReNew has created a new revenue stream that shields it from the volatility of power tariffs.
The performance highlights a broader shift among renewable developers. Generation alone is no longer sufficient; firms are moving into manufacturing, storage, and services. Pee...