ReNew Power Ventures sells 10% stake to JERA

Posted on:15 Feb 2017 18:04:16
ReNew Power Ventures sells 10% stake to JERA
15 February 2017 Current Affairs: The ReNew Power Ventures Pvt Ltd on 14 February 2017 announced that it sold a 10 per cent stake in the company to Japanese firm JERA for USD 200 million.

While the ReNew Power Ventures is India’s leading renewable energy producer, JERA is a Japanese company.

Following the company’s founding six years ago, this latest investment round now values ReNew Power Ventures Pvt Ltd at USD 2 billion.

ReNew Power Ventures : ReNew Power Ventures Pvt Ltd is an independent power producer (IPP) company. It was founded in 2011 by Sumant Sinha.

ReNew Power’s mission is to play a pivotal role in meeting India’s growing energy needs in an efficient, sustainable and socially responsible manner.

The company creates value through reliable and efficient generation of non-conventional power through innovation in solar and wind power solutions.

The company has over 3,000 MW of commissioned and under construction clean energy capacity across the States/UTs’ of Delhi, Gujarat, Haryana, Punjab, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Telangana, Jharkhand, Uttar Pradesh, West Bengal, Tamil Nadu and Andhra Pradesh.

Prior to this present deal with JERA, existing world-class investors, including the Abu Dhabi Investment Authority, Asian Development Bank and Global Environmental Fund and Goldman Sachs invested in the company.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs December 2017

12 DECEMBER
NEWS
11 DECEMBER
NEWS
10 DECEMBER
NEWS
9 DECEMBER
NEWS

Current Affairs November 2017

30 NOVEMBER
NEWS
29 NOVEMBER
NEWS
28 NOVEMBER
NEWS
27 NOVEMBER
NEWS

Current Affairs October 2017

31 OCTOBER
NEWS
30 OCTOBER
NEWS
29 OCTOBER
NEWS
28 OCTOBER
NEWS