ReNew Power May Raise Funds Through Asset Sales

In Clean News, News, Renewable Energy, Solar

India’s largest green energy company, ReNew Power Ltd., is considering raising funds through asset sales, after shelving plans for an initial public offering.

Backed by Goldman Sachs Group Inc., the company has renewable assets of over 7 gigawatts, of which more than 4 gigawatts are operational. It makes sense to sell some assets when “the ability to execute and the opportunity to grow” exceeds the ability to finance projects and the company could “sell assets outright” or have co-investors, ReNew Power Chairman Sumant Sinha said, without elaborating on the amount of capacity sale or the funds being targeted.

The company isn’t alone in withdrawing plans for an IPO or considering an infrastructure investment trust.

Rival solar power developer Acme Solar Holdings Pvt. last year put on hold a planned public listing and said it will opt instead to raise funds through a private InVit, citing turbulence in the South Asian country’s stock market and uncertainty over renewable energy policies.

This is a Syndicate News-Feed

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