+
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.

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

Rs 24.4 Trillion Worth Of Plots Launched Since 2022

Housing plots worth Rs 24.4 trillion have been launched across India’s top tier-I and tier-II cities between January 2022 and May 2025, driven by post-Covid demand for customisable living spaces, according to data from real estate analytics firm PropEquity.During this period, developers rolled out approximately 470,000 residential plots across ten cities—Hyderabad, Indore, Bengaluru, Chennai, Nagpur, Jaipur, Coimbatore, Mysore, Raipur, and Surat.Samir Jasuja, Founder and CEO of PropEquity, stated that the increasing popularity of residential plots stems from their liquidity and stronger ap..

Next Story
Infrastructure Urban

Wyndham, Cygnett To Add 60 Hotels Across South Asia

Wyndham Hotels & Resorts has entered into a strategic alliance with Indian hospitality group Cygnett Hotels & Resorts to significantly expand its presence across South Asia. The collaboration will bring Wyndham’s La Quinta and Registry Collection Hotels brands to India, with plans to develop over 60 hotels across India, Bangladesh, Sri Lanka, and Nepal in the next ten years.This move seeks to capitalise on the growth of India’s travel and tourism industry, fuelled by infrastructure investments, a growing middle class, and rising domestic and international tourism.Dimitris M..

Next Story
Infrastructure Urban

Marengo Asia To Invest Rs 1.5 Billion In West India Expansion

Marengo Asia Healthcare, a prominent multi-specialty hospital platform backed by marquee investors including Samara Capital, Havells Family Office, and the Godrej Family Office, has announced a strategic investment of Rs 1.5 billion to expand its presence into Maharashtra and Rajasthan. The move is part of the group’s wider vision to build a pan-India network by strengthening its operations across northern and western India.Currently operating around 1,500 beds across four hospitals in Delhi NCR and Gujarat, Marengo plans to double its bed capacity to 3,000 within the next 12 months. This wi..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?