M&A

M&A

ReNew Power to acquire 528-MW wind, solar assets for $388-M

Economic Times  

ReNew Power is to acquire an operating wind and solar portfolio of 527.9 MW, comprising 471.65 MW of wind and 56.25 MW of solar assets. The total enterprise value of these agreements is around USD 388 million. The company has also signed a PPA (Power Purchase Agreement) with MSEDCL for a 200-MW solar project. ReNew will supply electricity at INR 2.43/kWh (kilowatt-hour) for 25 years from its asset in Rajasthan to Maharashtra State Electricity Distribution Company Limited (MSEDCL). The definitive agreements come with PPAs with state distribution companies in Gujarat, Maharashtra, Madhya Pradesh, Karnataka, Rajasthan, Telangana, Kerala, and Tamil Nadu.