India's stranded renewable projects double to over 50 GW, industry documents show

Written by Emily J. Thompson, Senior Investment Analyst

RNW0%

Source: Reuters

Updated: Aug 01 2025

0mins

Source: Reuters

Stranded Renewable Capacity: India's stranded renewable power capacity has more than doubled to over 50 GW due to unfinished transmission lines and regulatory delays, as reported by the Sustainable Projects Developers Association (SPDA).
Impact on Energy Transition: The SPDA emphasizes that India's energy transition requires not only building renewable capacity but also ensuring timely delivery of clean power, urging the government to recognize delays as force majeure events to protect developers from financial penalties.

RNW

$5.5+Infinity%1D

Analyst Views on RNW

Wall Street analysts forecast RNW stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RNW is 7.67 USD with a low forecast of 7.00 USD and a high forecast of 8.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

3 Analyst Rating

2 Buy

1 Hold

0 Sell

Moderate Buy

Current: 5.500

Low

7.00

Averages

7.67

High

8.00

Current: 5.500

Low

7.00

Averages

7.67

High

8.00

Roth Capital

Buy

downgrade

2025-12-17

Reason

Roth Capital

Price Target

AI Analysis

2025-12-17

downgrade

Buy

Reason

Roth Capital lowered the firm's price target on ReNew Energy Global to $8 from $8.15 and keeps a Buy rating on the shares. The company has disclosed on December 15 that Masdar had withdrawn from the investor consortium, and as a result, the consortium will no longer proceed with the proposed take-private transaction, the analyst tells investors in a research note. While no explanation was provided for Masdar's withdrawal, the decision was unexpected given how close the parties appeared to be to a final agreement, the firm added.

Mizuho

Neutral

downgrade

2025-12-16

Reason

Mizuho

Price Target

2025-12-16

downgrade

Neutral

Reason

Mizuho lowered the firm's price target on ReNew Energy Global to $7 from $8.15 and keeps a Neutral rating on the shares after Masdar announced that it is withdrawing from a consortium that planned to take ReNew Energy private. The share selloff is "overdone" and likely reflects arbitrage investors exiting the stock, the analyst tells investors in a research note.

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Mizuho

Neutral

downgrade

2025-12-15

Reason

Mizuho

Price Target

2025-12-15

downgrade

Neutral

Reason

Mizuho lowered the firm's price target on ReNew Energy Global to $7 from $8.15 and keeps a Neutral rating on the shares. The company has announced before market open today that it is withdrawing from a consortium that planned to take ReNew Energy private, sending the stock down 27% today, but that reaction is overdone as it likely reflects special situations/risk arbitrage investors exiting the stock is in line with where the stock traded pre-deal a year ago, the analyst tells investors in a research note. The firm's updated price target is now based on no-growth next-12-month EBITDA multiples on power generation and manufacturing business in FY28 vs peers, the firm added.

Roth Capital

Justin Clare

Buy

maintain

2025-11-10

Reason

Roth Capital

Justin Clare

Price Target

2025-11-10

maintain

Buy

Reason

Roth Capital analyst Justin Clare raised the firm's price target on ReNew Energy Global to $8.15 from $8 and keeps a Buy rating on the shares following "mixed" Q2 results. The operating portfolio expanded above the firm's expectations as the company commissioned 384MW during the quarter. Additionally, Roth sees an increasing likelihood the proposed $8.15 per-share acquisition offer closes.

About RNW

ReNew Energy Global Plc is a decarbonization solutions company. The Company is a utility-scale renewable energy solutions provider in India. Its segments include wind power, solar power, hydro power, transmission line, and manufacturing. Its wind power segment includes utility-scale wind energy projects in India. Its solar power segment includes utility-scale solar energy projects in India. Its hydro power segment includes hydro energy projects in India. Its transmission line segment includes construction and maintenance of transmission lines. Its manufacturing segment includes manufacturing of solar panels and modules. It primarily operates wind, solar, and hydro energy projects. It provides clean energy solutions and value-added energy offerings through digitalization, storage, and carbon market services. It conducts business activities relating to the generation of power through non-conventional and renewable energy sources through ReNew Power Private Limited and its subsidiaries.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.