One of India’s largest private renewable power project developers — ReNew Power — may be looking to sell over 1 gigawatt of solar and wind power projects. According to media reports, ReNew Power is in
One of India’s largest private renewable power project developers — ReNew Power — may be looking to sell over 1 gigawatt of solar and wind power projects., ReNew Power is in talks with Torrent Power, an integrated power company with a footprint across India, to sell 350 megawatts of solar and 750 megawatts of wind energy assets. The enterprise value of these assets is estimated at around $1.2 billion.
Torrent Power operates across the power sector value chain. It owns a number of thermal power projects, services nearly 4 million consumers as a distribution utility across a number of cities, and also operates transmission infrastructure. The company also owns over a gigawatt of renewable power capacity and is developing an additional 715 megawatts of capacity.
According to a slew of media reports, ReNew Power has been looking to sell assets to raise capital to repay outstanding debt and enter new ventures. The company has tied up with Larsen & Toubro and Indian Oil to develop a
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