Power Update

ReNew Power invests Rs 6,700 cr to double its capacity

ReNew Power Ventures Pvt Ltd announced that the company has doubled its power generation capacity in a single year’s time to cross 2 GW. In the financial year 2016-17, the company has made investments of Rs 6,700 crore (approximately US$ 1 billion) to add 430 MW of solar and 626 MW of wind capacity. In February, the company raised Rs 3,100 crore through issuance of Rupee denominated bonds (Masala Bonds) to an overseas Special Purpose Vehicle.

ReNew Power was founded in 2011 by Sumant Sinha and has been has been financed by marquee financiers across the globe like Goldman Sachs and Global Environment Fund in the US; Abu Dhabi Investment Authority (ADIA) in the Middle East; and Asian Development Bank and JERA from Asia.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Most Popular

To Top