Tuesday 3 April 2018

ReNew Power buys energy firm in one of India’s biggest clean deal

ReNew Power, backed by investors including Goldman Sachs, has bought an energy firm in one of India’s biggest renewable energy deals.

The deal to acquire Ostro Energy Private Limited is expected to reinforce ReNew Power’s position in the renewable sector.

Ostro Energy has a total capacity of more than 1,100MW, out of which nearly 850MW is already commissioned.

With the acquisition of these assets, ReNew Power’s capacity will exceed 5.6GW.

Other investors backing ReNew Power include Japan’s Jera, Abu Dhabi Investment Authority and Canada Pension Plan Investment Board.