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.
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.

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