ReNew to sell minority stake in C&I projects
POWER & RENEWABLE ENERGY

ReNew to sell minority stake in C&I projects

ReNew Energy Global Plc. is planning to sell a minority stake in its commercial and industrial (C&I) projects for around $300 million as part of its capital recycling strategy, two people aware of the development said. The company, one of India’s largest clean energy developers, plans to hire investment bank Moelis & Co. to sell up to 30 per cent equity stake in its 2.3-Gigawatt C&I project portfolio, the people cited above said on the condition of anonymity, adding the plan is still in early stages.

There is growing investor interest in the mature C&I segment, which does not involve risks such as electricity distribution companies curtailing power procurement. Recently, Aditya Birla Group hired Standard Chartered to sell up to 49 per cent stake in the group’s renewable energy business to raise around $400 million. This also comes against the backdrop of ReNew planning Rs 350,000 million capital expenditure over the next 18 months.

ReNew has been looking at a number of opportunities as part of its capital recycling strategy. Earlier, Japan’s Mitsui & Co. Ltd. acquired a 49 per cent stake in ReNew’s round-the-clock 1.3GW renewable energy project and 100MWh battery storage farm. ReNew has tied up several partnerships as part of its growth strategy. This includes a partnership with Norway’s state-owned investment fund Norfund, and KLP, Norway’s largest pension company, to co-invest in transmission projects. ReNew Energy Global Plc’s subsidiary ReNew Power Private Ltd has also partnered with Elsewedy Electric SAE to set up a green hydrogen plant in the Suez Canal Economic Zone at an investment of $8 billion.

It has also joined hands with AES, and Siemens-backed Fluence to form an equal joint venture for energy storage business in India. In addition, ReNew has also partnered with state-run Indian Oil Corp. Ltd and Larsen & Toubro to form a tripartite venture for the green hydrogen sector in India.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

ReNew Energy Global Plc. is planning to sell a minority stake in its commercial and industrial (C&I) projects for around $300 million as part of its capital recycling strategy, two people aware of the development said. The company, one of India’s largest clean energy developers, plans to hire investment bank Moelis & Co. to sell up to 30 per cent equity stake in its 2.3-Gigawatt C&I project portfolio, the people cited above said on the condition of anonymity, adding the plan is still in early stages. There is growing investor interest in the mature C&I segment, which does not involve risks such as electricity distribution companies curtailing power procurement. Recently, Aditya Birla Group hired Standard Chartered to sell up to 49 per cent stake in the group’s renewable energy business to raise around $400 million. This also comes against the backdrop of ReNew planning Rs 350,000 million capital expenditure over the next 18 months. ReNew has been looking at a number of opportunities as part of its capital recycling strategy. Earlier, Japan’s Mitsui & Co. Ltd. acquired a 49 per cent stake in ReNew’s round-the-clock 1.3GW renewable energy project and 100MWh battery storage farm. ReNew has tied up several partnerships as part of its growth strategy. This includes a partnership with Norway’s state-owned investment fund Norfund, and KLP, Norway’s largest pension company, to co-invest in transmission projects. ReNew Energy Global Plc’s subsidiary ReNew Power Private Ltd has also partnered with Elsewedy Electric SAE to set up a green hydrogen plant in the Suez Canal Economic Zone at an investment of $8 billion. It has also joined hands with AES, and Siemens-backed Fluence to form an equal joint venture for energy storage business in India. In addition, ReNew has also partnered with state-run Indian Oil Corp. Ltd and Larsen & Toubro to form a tripartite venture for the green hydrogen sector in India.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000