ReNew Signs Deal with Anzen to Sell 300 MW Solar Asset in Rajasthan

26 Dec 2024 CW Team

ReNew Energy Global Plc (ReNew) announced that it had entered into an agreement with Anzen to sell its entire stake in its wholly owned subsidiary, ReNew Sun Waves (RSWPL), at an enterprise value of $176 million. As per the agreement, ReNew Private will transfer 100 per cent of its shareholding and economic interest in RSWPL, which owns a 300 MW operating solar asset, to Anzen India Energy Yield Plus Trust (Anzen).

In a regulatory filing, ReNew stated that it had signed a definitive agreement to sell RSWPL to Anzen. The transaction is expected to close once the contractual obligations and conditions precedent, including lender approval, are completed.

The enterprise value under the agreement is $176 million, subject to adjustments based on net current assets and other terms outlined in the definitive documents. Additionally, $17 million is anticipated as an earn-out due to the change in law proceeds, related to an increase in basic customs duty (BCD), safeguard duty (SGD), and goods and services tax (GST), after the first payment is made by RSWPL.

The 300 MW SECI solar project, located in Jaisalmer, Rajasthan, has been operational for three years. The power purchase agreement for the project has a tariff of Rs 2.55 per unit over 25 years.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..