Decarbonization solutions company ReNew Global Energy (ReNew) has received a best and final non-binding proposal from the consortium led by Abu Dhabi Future Energy (Masdar), Canada Pension Plan Investment Board, Platinum Hawk, and Sumant Sinha, Founder-CEO at ReNew, to acquire the company’s entire issued and to-be issued share capital for a cash consideration of $8.15 per share.

This would include the share capital not already owned by the consortium.

ReNew said this acquisition proposal represents a $1.08 per share or 15.3% increase from the initial non-binding proposal from the consortium dated December 10, 2024. It added that the latest proposal represents a 28.5% rise against its undisturbed share price of $6.34 last December. This was the closing share price before the initial non-binding proposal became public.

The revised proposal is also at a premium of 41.5% premium on the $5.76 per share 30-day volume-weighted average price on the initial proposal date.

The proposal from the consortium was reviewed by a special committee formed by ReNew’s board of directors. The committee, consisting of six independent non-executive ReNew directors, was led by Manoj Singh as the Lead Independent Director.

The special committee, along with its independent financial advisor, Rothschild & Co, and independent legal counsel, Linklaters, is evaluating the revised proposal.

ReNew said that active discussions with the consortium are ongoing, and the special committee will provide a conclusive update soon.

The company added that it will not give assurance on the likelihood, terms, or details of a potential transaction from the consortium’s revised proposal or any other transaction.

Recently, Sembcorp Green Infra, a wholly owned subsidiary of Singapore-based energy solutions company Sembcorp Industries, signed a share purchase agreement with ReNew to acquire 100% of ReNew Sun Bright, its subsidiary, for approximately SGD246 million (~$190 million).

ReNew reported a 1,202% year-over-year increase in net profit to ₹5.13 billion ($59 million) in the first quarter of the financial year 2026, from ₹394 million ($5 million). The company attributed the rise in profit to higher operating revenues, external sales from its module and cell manufacturing operations.