India’s largest green energy company ReNew Power is gearing up for a major internal rejig involving its top global investors which could see Canada’s CPPIB (Canada Pension Plan Investment Board) and Brookfield in the driver’s seat if deal talks fructify, sources with knowledge of the matter told Moneycontrol.
ReNew Power was founded in 2011 by Sumant Sinha, son of Former Finance Minister Yashwant Sinha and the firm is the largest renewable energy IPP (Independent Power Producer) in terms of total energy generation capacity.
“ CPPIB, an existing investor, and Brookfield, the newcomer, are looking at making a combined investment of more than a billion dollars in ReNew Power and buy out stakes of other global investors. The discussions are at a preliminary stage and may or may not necessarily result in a transaction,” a source told Moneycontrol.
“CPPIB is in talks to buy out the entire stake held by ReNew Power’s oldest investor Goldman Sachs and provide it with an exit. Brookfield, on the other hand, is eyeing the stake held by another existing investor ADIA (Abu Dhabi Investment Authority),” added another source. Read More
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