Suzlon Group has executed agreements to acquire a 76% stake in Renom, India's leading Multi Brand Operations and Maintenance Services provider, enhancing its position in the rapidly growing wind energy sector.

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Suzlon Group has entered into definitive agreements to acquire a 76% equity stake in Renom Energy Services Private Limited ("Renom"), India’s leading provider of Multi Brand Operations and Maintenance Services (MBOMS) for renewable energy. With a significant portfolio comprising 1,782 MW in wind, 148 MW in solar, and 572 MW in balance of plant services, Renom has emerged as a pivotal player in the country. The initial phase of the acquisition includes a 51% stake for INR 400 crore, followed by an additional 25% stake within 18 months for INR 260 crore, solidifying its position in the expanding renewable market.

Founded in 2015 by the Sanjay Ghodawat Group, Renom currently manages approximately 2.5 GW of assets and has demonstrated robust growth with a 30% compound annual growth rate (CAGR) in its fleet since FY20. The company boasts a skilled workforce of over 850 employees and has developed expertise across various turbine makes, indicating its capacity to capture significant opportunities in the growing 32 GW non-Suzlon wind turbine services market.

Industry Overview in India

The renewable energy sector in India is undergoing rich transformations, with government initiatives targeting a total renewable energy capacity of 500 GW by 2030. This ambitious target underscores the urgent