ReNew Power Raises $140 Million From Global Investors For Expansion
BI India BureauJul 4, 2014, 02.51 PM
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In a clear indication that the Narendra
Goldman Sachs, an original investor in the company, has pumped in $70 million into
After the latest fund infusion, the total equity investment in ReNew Power stands at $390 million( Rs 2,327 crore). Interestingly, this is the largest in
"If the market is supportive and there is a conducive environment for the
Earlier, there were reports that ReNew is looking for fresh investors. Goldman, which provided initial funding of $135 million in 2011, had committed to invest $320 million in the company. Currently, with new investors coming on board, Goldman's additional investment is kept on hold, said Sinha.
ReNew Power has also ventured into solar power production with a 50-Mw project in Madhya Pradesh. "We plan to increase our portfolio by 500 Mw by 2015, mainly dominated by wind power projects," Sinha said.
Sinha also asserted that the company would look forward to participate in the upcoming phase of the