One Of India’s Largest Renewable Energy Deals is in the Making

In Clean News, News, Renewable Energy, Solar, Uncategorized

Stung by rising competition and missed opportunities in several of the recent solar and wind energy auctions, one of India’s leading renewable energy IPPs is aggressively exploring inorganic growth options.

ReNew Power Ventures, backed by Goldman Sachs, is now looking to acquire assets of Ostro Energy, another India-based renewable energy IPP that is backed by global private equity firm Actis. If this deal comes to fruition it could be one of the largest renewable energy deals in India.

Ostro Energy has an operational wind energy capacity of 648 megawatts and another 460 megawatts of solar and wind energy capacity under construction that are likely to be operational by 2019. ReNew Power is perhaps the largest private sector renewable energy company in India with around 3.5 gigawatts of solar and wind energy capacity operational or under-construction. The company targets an operational capacity of 11 gigawatts over the next few years.

The company has also filed for an initial public offering and plans to raise $150 million. These funds could very well be used to fund one or more acquisitions that company may undertake.

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