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 17, 2025
Spanish renewables developer and operator Acciona Energía has commissioned its 412MWp Juna solar PV plant in Kawani village in the western state of Rajasthan. 
September 17, 2025
For the third year in a row, self-consumption installs have fallen in Spain, with 611MW of new additions in the first half of 2025, according to a report from trade body APPA Renovables.
September 16, 2025
IB Solar is investing INR30 billion (US$340 million) in a 4GW TOPCon solar cell and module manufacturing plant in Jewar, Uttar Pradesh.
September 15, 2025
Norwegian energy firm Statkraft has agreed to divest a portion of its renewable energy portfolio to Serentica Renewables.
September 15, 2025
Vikram Solar has secured a contract to supply 200MW of modules to AB Energia, a domestic solar engineering, procurement, and construction (EPC) solutions provider. 
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.

Subscribe to Newsletter

Upcoming Events

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
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA