In order to use Renoise’s “Render Song To Disk” feature to produce stems, the “Save each track into a separate file” isn’t very useful since it renders each track isolated from effects added to groups and sends that track is a part of.
While that sort of 100% dry rendering may be useful to some, I would expect most people to find it more useful that each track is rendered as though it was soloed in Renoise, with parent groups, sends, etc., and all of their effects active.
It would still not become 100% perfect due to Signal Follower and other interdependent track effects being disabled, but independent effects such as compression, EQ and reverb would still be applied, making the render much more useful as a stem.
I’ve searched, but not been able to find a plugin that does this.