Canada Pension Plan Investment Board (CPPIB) on Monday said it is acquiring a 6.3% stake in ReNew Power Ventures Pvt. Ltd from Asian Development Bank for $144 million.
“This transaction aligns well with our overall power and renewables strategy, further diversifying the CPP Fund,” said Scott Lawrence, managing director and head of fundamental equities at CPPIB, Canada’s largest pension fund manager. “India’s overall power industry continues to grow and we see solar and wind as attractive clean energy sources to meet the country’s growing demand for electricity.”Read More…
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