Gurgaon-based renewable energy company ReNew Power Ventures has sold 10 per cent stake to Japanese power giant JERA to raise $200 million. In an exclusive interview with Debapriya Mondal, the Rs 858 crore firm’s Chairman and Chief Executive Officer Sumant Sinha shares the details of the expansion plan that will be funded with the money raised through the deal and shares a perspective on the historic low solar tariffs just discovered.
JERA is investing $200 million. It is a very simple and straight-forward transaction. With the funds that we are raising, we are going to keep increasing our capacity. So, today we have a capacity of 3,000 Megawatt that we already have in the pipeline. Of this, around a half is already built and the other half is being constructed right now. That amount is fully funded and this basically allows us to get to 4,000 MW. So, we can do about 1,000 MW more of new capacity with this deal. Read More…
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