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ReNew sells 300 MW solar asset to Anzen for $176 million

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ReNew Energy Global has entered into an agreement to sell its entire stake in ReNew Sun Waves Pvt Ltd (RSWPL) to Anzen India Energy Yield Plus Trust for $176 million. RSWPL operates a 300 MW solar asset in Jaisalmer, Rajasthan. The deal will close after fulfilling contractual obligations, conditions precedent, and lender approvals. The enterprise value may adjust based on net current assets and other provisions in the agreement.  ReNew also expects an earn-out of…

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Investors propose taking ReNew Energy Global private in deal

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Major investors in ReNew Energy Global have proposed taking the clean power generator private in a deal valued at $2.82 billion.  The consortium, which includes the Canada Pension Plan Investment Board and UAE-based Masdar, holds 64% of the company’s voting rights and has offered to buy ReNew’s shares at $7.07 each. The offer represents an 11.5% premium on ReNew’s closing price of $6.34 on December 10, 2024. Following the announcement, ReNew’s stock closed at $7.46,…