ReNew to acquire 99 MW L&T hydropower plant worth Rs 985 cr

13 Aug 2021 CW Team

Larsen & Toubro (L&T) has announced plans to sell its 99 MW renewable power plant in Rudraprayag, Uttrakhand, to ReNew Power, marking the entry of the Sumit Singh-led company into hydropower.

Both the companies announced the signing of the binding agreement for the acquisition of the power plant.

ReNew Power has signed agreements for 260 MW and 330 MWp solar projects in Telangana. The overall value of the acquisition is nearly Rs 2,850 crore. The company also plans to merge with an American blank cheque company or a Special Purpose Acquisition Company (SPAC), which will bring Rs 380 to Rs 400 crore of Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) on a yearly basis.

Singoli Bhatwari Hydroelectric Project (SBHEP) owned by L&T Uttaranchal Hydropower Ltd, would be given to ReNew from L&T Power Development Ltd. As a part of the acquisition, ReNew would add SBHEP's project operations team to its power team.

SBHEP has a significant capacity of two to three hours, which adds 200 MWh to 300 MWh hr of low-cost hydro storage to ReNew Power's portfolio, the company said.

Apart from the L&T project, ReNew Power has also won bids for peak power projects and round-the-clock (RTC) power projects, for which ReNew Power has signed a Power Purchase Agreement (PPA).

The transaction is subjected to completion of customary closing conditions, and the expected closing date is before 30 September 2021. The sale is considered to be Rs 985 crore. D K Sen, Director of L&T, told the media that the project is a significant step to unlock the valuable power development assets to streamline and allocate capital to create a long-term value for shareholders.

Image Source

Also read: NHPC, BSHPC enter pact for 130.1 MW Dagmara HE project

Also read: Govt proposes to hive off central hydro projects

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..