PE Fund Investments
Edelweiss fund to acquire ReNew Energy’s 300 MW solar power plant for $193-M
Nasdaq-listed ReNew Energy Global Plc has agreed to sell a 300 MW operating solar power plant to Anzen India Energy Yield Plus Trust , a part of the Edelweiss group, at an enterprise value of USD 176 million. Additionally, about USD 17 million is expected to be received as an earn-out on account of change in law proceeds pertaining to increase in basic customs duty (BCD), safeguard duty (SGD) and goods & service tax (GST), after the first payment is realised by ReNew Sun Waves Pvt Ltd (RSWPL), which houses the solar asset that is being sold to Anzen.The plant is located in Jaisalmer, Rajasthan, and has been operational for about three years.Anzen is managed by Edelweiss Real Assets Managers, part of the Edelweiss Alternatives business. Anzen Trust fully owns two power transmission projects.
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