India’s ReNew Power files for IPO

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
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

April 20, 2021
India presents an “enormous potential” for the development of solar and wind hybrid power systems, with more than 12.3GW of collocated tenders issued in the country to date.
April 20, 2021
US solar tracker company FTC Solar become the latest tracker provider to launch an initial public offering (IPO), aiming to raise up to US$423 million.
April 12, 2021
Spanish energy company Acciona has secured shareholder approval for an initial public offering (IPO) of its renewables division, providing a boost for the firm’s plans to reach 6GW of installed PV by 2025.
April 9, 2021
Spanish independent power producer Opdenergy is preparing to launch an initial public offering to help fund the development of 3.7GW of renewables projects across Europe and the Americas.
PV Tech Premium
April 8, 2021
After a challenging year, India’s solar sector stands primed for something of a rebound. But a host of familiar issues, from the perilous state of DISCOMs to regulatory uncertainty, run the risk of stymying future growth. Vinay Rustagi, managing director at consultancy Bridge to India, talks to PV Tech about the future prospects for Indian solar.
April 8, 2021
Tata Power Solar has expanded its PV manufacturing facility in Bengaluru, India, taking the total production capacity of modules and cells to 1.1GW.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)