Renew Power On Fortune ‘Change The World’ Top 10 list

ReNew Power (NASDAQ: RNW), has been ranked 10^th by Fortune Magazine in its annual “Change the World” list for 2021, the highest rank achieved by an Indian company in this year’s list. The annual list by Fortune recognizes leading businesses that are working to improve human condition even as they pursue their business goal of seeking profitable growth.

Citing the reason for selecting ReNew, Fortune magazine says, “ReNew has the daunting task of building an alternative to fossil fuels in the nation that is the world’s third-largest oil importer and one of the fastest-growing energy consumers.”

The selected firms were on primarily four factors including impact on societal issues, business outcomes, innovation, and integration of socially impactful initiatives with the company’s business approach.

Chinese wind turbine manufacturer Envision group also made it to the list, thanks to its push towards  support for green hydrogen manufacturing. Besides it, other firms on the list include financial firms Banco Santander, Paypal Holdings, KCB Group and Bank of America. German auto giant Daimler also makes it.

For Renew Power, the recognition follows its listing on NASDAQ after a merger with a SPAC, and continues the firm’s positioning at front of renewable energy firms making an impact in India’s push for green energy. As one of the earliest startups in the space from India, Renew Power has grown fast on the back of support from its marquee investors as well as an agile management’s ability to spot opportunities and deliver projects in India’s challenging energy market.