Goldman's to offload 14 per cent stake in ReNew Energy Global
  1. Home
  2. Infrastructure Energy
  3. POWER & RENEWABLE ENERGY
  4. Goldman's to offload 14 per cent stake in ReNew Energy Global
POWER & RENEWABLE ENERGY

Goldman's to offload 14 per cent stake in ReNew Energy Global

09 Mar 2023 CW Team
According to two people who are familiar with the situation, Goldman Sachs is planning to sell its remaining 14 per cent stake in ReNew Energy Global, the Nasdaq-listed parent company of ReNew Power, to the Canada Pension Plan Investment Board (CPPIB) for approximately $268 million.

The pension fund, one of the largest in the world, will acquire a stake in ReNew totaling more than 51 per cent following the transaction. Goldman will be able to get out of ReNew, one of the biggest renewable energy companies in India, thanks to the deal. Over the course of several years, the Wall Street firm, which was one of the initial investors in ReNew, which was founded by Sumant Sinha, has been reducing its stake in the business. Canada Pension Plan, which manages more than $536 billion in assets, has been gradually increasing its stake in the business.

A CPPIB spokesperson stated, "We don't have any further comment other than information contained in the SEC filings" in response to an email inquiry. Goldman and Reestablish spokespersons didn't answer inquiries.

Discover the Cement Expo! Click the button below to explore all the event details.

Visit Cement Expo Website

According to two people who are familiar with the situation, Goldman Sachs is planning to sell its remaining 14 per cent stake in ReNew Energy Global, the Nasdaq-listed parent company of ReNew Power, to the Canada Pension Plan Investment Board (CPPIB) for approximately $268 million. The pension fund, one of the largest in the world, will acquire a stake in ReNew totaling more than 51 per cent following the transaction. Goldman will be able to get out of ReNew, one of the biggest renewable energy companies in India, thanks to the deal. Over the course of several years, the Wall Street firm, which was one of the initial investors in ReNew, which was founded by Sumant Sinha, has been reducing its stake in the business. Canada Pension Plan, which manages more than $536 billion in assets, has been gradually increasing its stake in the business. A CPPIB spokesperson stated, We don't have any further comment other than information contained in the SEC filings in response to an email inquiry. Goldman and Reestablish spokespersons didn't answer inquiries.

Previous
40 per cent Renewable Generation Obligation (RGO) mandatory

Next
Yogi Adityanath govt. sets timeline to make power plants

Related Stories

Gold Stories

Opinion Poll

Question : What are you most interested in Construction Technology?

Latest updates

ROADS & HIGHWAYS
28 Nov 2023

Roads in Trichy Damaged Again for Pipeline, Raises Concerns

ROADS & HIGHWAYS
28 Nov 2023

Uttarakhand Tunnel Collapse: Rescue Drilling Restarts

AVIATION & AIRPORTS
28 Nov 2023

IATA Urges Swift Govt Action for Aviation Decarbonisation

RAILWAYS & METRO RAIL
28 Nov 2023

BMRCL Commences Landwork for Metro Phase 3

POWER & RENEWABLE ENERGY
28 Nov 2023

Odisha Advances with 6.5 MW Rooftop Solar

ROADS & HIGHWAYS
28 Nov 2023

Uttarkashi Tunnel Drilling Nears Completion

ROADS & HIGHWAYS
28 Nov 2023

UP Achieves 5000 km Road Network

RAILWAYS & METRO RAIL
28 Nov 2023

Major Milestone Achieved in Mumbai-Ahmedabad Bullet Train Project

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram