ReNew to sell minority stake in C&I projects

22 Feb 2023 CW Team

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.

Infrastructure Urban

30 Aug 2025

Delivering metals in 24 hours with AI

India’s metal supply chain has long struggled with delays, fragmentation and lack of transparency, forcing purchase teams to chase vendors and juggle uncertain stock. Enlight Metals is tackling these inefficiencies with an AI-powered aggregation platform, multilingual voice-enabled procurement and strategically located dark stores that enable 24-hour delivery – transforming how OEMs, EPCs and infrastructure players source their metals. In a conversation with CW, Dhananjay Goel, Director, and Vedant Goel, Director, shares how the company is reshaping procurement. What problem..

Silvin's CPVC Additive Gets NSF® Certification for Safety

Silvin Additives, a prominent manufacturer of PVC and CPVC additives, has secured the NSF® Guideline 533 certification for its CPVC Super1Pack formulation. This certification affirms the additive’s compliance with stringent international health and safety standards for products intended for drinking water applications.Awarded by NSF, a globally respected public health and safety authority based in Michigan, United States, the certification is granted only after rigorous product testing and inspection. NSF® Guideline 533 specifically assesses the safety of chemical ingredients used in produ..

Mitsubishi Halts Offshore Wind Projects in Japan

Mitsubishi Corporation (MC) has announced its decision to withdraw from three major offshore wind projects off the coast of Japan due to a significant shift in global business conditions. The projects were being developed through a consortium led by its subsidiary, Mitsubishi Corporation Offshore Wind Ltd., and were located off the shores of Noshiro City, Mitane Town, and Oga City in Akita Prefecture; Yurihonjo City in Akita Prefecture; and Choshi City in Chiba Prefecture.The company stated that following a review initiated in February 2025, it concluded the projects were no longer viable. The..