India’s ReNew Power files for IPO

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Credit: ReNew Power

Indian solar and wind developer ReNew Power Ltd has filed for an initial public offering (IPO), according to Reuters.

Global Environment Fund, Green Rock and an arm of Goldman Sachs are selling around 94.4 million shares in the IPO, which a source told Reuters could raise more than US$1 billion.

ReNew, which has nearly 4GW of operational solar and wind capacity and nearly 1.7GW under development, is backed by Goldman Sachs, Canada Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority, and JERA Co. Inc, which is a consortium of two major Japanese utilities.

Last month, ReNew Power bought Ostro Energy Private Ltd for an undisclosed sum in what was one of India’s largest ever renewable energy deals.

PV Tech recently analysed how hardening interest rates are affecting Indian solar, particularly in the secondary market.

Read Next

May 10, 2021
Spanish energy company Acciona plans to carry out an initial public offering (IPO) of its renewables unit before the end of June despite recent volatility among Spanish green energy stocks.
May 6, 2021
Independent power producer has Opdenergy has postponed an initial public offering (IPO) just days before its shares were due to start trading on the Spanish stock exchanges.
May 5, 2021
SHV Energy, a Netherlands-based liquified petroleum gas (LPG) distributor, has acquired a majority stake in Indian solar developer SunSource Energy.
May 4, 2021
Spanish renewables developer and independent power producer (IPP) Grupo Ecoener has seen its shares slide on its market debut today.
April 30, 2021
Solar manufacturers that plan on setting up integrated, higher capacity plants in India will be given preference in the country’s new production-linked incentive (PLI) programme.
April 29, 2021
California-headquartered solar tracker manufacturer Nextracker is moving forward with a proposed initial public offering (IPO) of the company.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021