ReNew Power sells rooftop solar portfolio for US$90m to focus on utility-scale PV

Facebook
Twitter
LinkedIn
Reddit
Email
ReNew Power’s 39MW Adoni solar project in Andhra Pradesh. Image: ReNew Power.

Indian independent power producer (IPP) ReNew Power has sold its 117MW rooftop solar portfolio as part of a strategy to heighten its focus on utility-scale PV.  

The portfolio has been acquired by India-based distributed solar developer Fourth Partner Energy for INR 6.72 billion (~US$89.9 million).

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

ReNew said the sale reaffirms its commitment to being more efficient by focusing more on large-scale solar projects, allowing it to leverage its scale and asset management capabilities.

“This sale illustrates the value that can be released through sale of assets and enhances our ability to capitalise on higher return opportunities in the near term,” said ReNew Power CEO Sumant Sinha.  

ReNew Power, which began trading on the NASDAQ last year after completing a business combination with a special purpose acquisition company (SPAC), earlier this month raised US$400 million by issuing green bonds to support new renewables investments and to refinance debt.

The IPP has since revealed plans to set up an India-focused joint venture (JV) with energy storage technology provider Fluence, as reported by sister site Energy-Storage.news.

Fourth Partner Energy’s expansion in India’s distributed solar segment follows its creation of a JV last year with coal producer Indika Energy that will develop commercial and industrial solar projects in Indonesia.

Research published in October by consultancy JMK Research & Analytics projected that India was on track to deploy 3GW of rooftop solar in 2021.

Read Next

September 4, 2025
India’s Goods and Services Tax (GST) Council, the joint forum of the Centre and States, has reduced the GST rate on renewable energy components from 12% to 5%. 
September 4, 2025
Fraunhofer ISE has completed testing work of grid-forming inverters currently available in the energy industry.
September 4, 2025
Indian solar manufacturer Waaree Energies has acquired a 64% equity stake in power transformer manufacturing company Kotsons.
September 3, 2025
India has added 2.8GW of rooftop solar in H1 2025, a 158% year-on-year surge from just 1.1GW in the same period last year.
September 3, 2025
Singapore-headquartered independent power producer Peak Energy has broken ground on a 65MWp solar project in Isabela, in the Cagayan Valley region of northeast Luzon, Philippines. 
September 2, 2025
Swedish independent power producer (IPP) OX2 has appointed Matthias Taft as its new chief executive officer.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines