Sumant Sinha-led ReNew Power is making a Rs 1,000-crore acquisition of wind powerassets of the KC Thapar Group, helping India’s biggest renewable energy player strengthen its position in the rapidly consolidating sector.
ReNew Power will acquire three fully operational plants with a total capacity of 103 megawatts in Andhra Pradesh in one of the biggest deals in renewable energy sector this year, as the market leader shifts its strategy from primarily organic growth to big acquisitions. Re-New Power competed with a dozen Indian and foreign bidders for the assets.
“The acquisition of the KCT Group’s wind assets consolidates our leadership position in India’s rapidly evolving renewable energy space,” Kailash Vaswani, deputy chief financial officer at ReNew Power, told ET. Read More…
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