India’s largest renewables group ReNew Power plans to go public after an $8bn merger deal that it said will leave it well-placed to take full advantage of huge wind and solar growth in its home nation.

ReNew Power plans to change its name to ReNew Energy Global after agreeing a merger with RMG Acquisition Corporation II ahead of a planned listing on the Nasdaq exchange in New York.

Under founder and CEO Sumant Sinha – and with the long-time backing of Goldman Sachs – ReNew has since it was set up in 2011 emerged as India’s biggest renewable independent power producer (IPP) with 10GW of wind and solar under its wing, either operating or secured in auctions.