The sale of these bonds, with three-year maturity, opened for subscription Thursday. MUMBAI: Clean energy firm ReNew Power raised $300 million by selling bonds overseas, seeking to use the proceeds for capacity expansion. The sale of these bonds, with three-year maturity, opened for subscription Thursday. The dollar-denominated securities were priced at 6.45%, the initial target […]
ReNew Power appoints D Muthukumaran as CFO
Gurugram, India: Renew Power limited (“ReNew Power”), India’s leading Renewable energy company, today announced appointment of Mr. D Muthukumaran, as its new Chief Financial Officer (CFO). Mr. D Muthukumaran will oversee the company’s finance & accounts, legal and corporate finance functions. He takes over the role following the retirement from the company of the current […]
Birla veteran Muthukumaran appointed CFO of ReNew Power
NEW DELHI: Birla group veteran D Muthukumaran has been appointed as chief financial officer of ReNew Power, according to a statement by the Gurugram-based renewable energy company. ‘Muthu’ as he is popularly known in business circles had spent 17 years with Aditya Birla group and was the head of the group’s private equity business in […]
ReNew Power, Shapoorji Pallonji to invest in 150 MW solar power project
ReNew Power and Shapoorji Pallonji will collectively invest nearly Rs 750 crore in 150 MW floating solar power project in Uttar Pradesh. This is touted to be the first such project in Uttar Pradesh, and is also the largest floating solar energy project in India. The project will come up at the existing Rihand Hydro […]
Moody’s assigns first-time Ba2 rating to ReNew Power
Moody’s expects ReNew’s financial metrics to gradually improve over time Moody’s has kept the rating outlook stable Mumbai: Global credit ratings agency Moody’s Investors Service has assigned a first-time Ba2 corporate family rating to ReNew Power Ltd (RPL), one of India’s largest private renewable energy companies. The Ba ratings grade is judged to have speculative […]
ReNew Power raises USD 300 mn via rights issue
Clean energy firm ReNew Power Sunday said it has raised USD 300 million (around Rs 2,050 crore) through a rights issue. Goldman Sachs, Abu Dhabi Investment Authority (ADIA) and Canada Pension Plan Investment Board (CPPIB) have subscribed to the issue, with each of the shareholders infusing USD 100 million, a company statement said. The rights […]
ReNew Power likely to raise funds by selling assets after dropping IPO plan
The company isn’t alone in withdrawing plans for an IPO or considering an infrastructure investment trust India’s largest green energy company, ReNew Power, is considering raising funds through asset sales, after shelving plans for an initial public offering (IPO). Backed by Goldman Sachs Group, the company has renewable assets of over 7 gigawatts, of which […]
ReNew Power to raise $350 million in bonds
The company has expanded considerably over the last two years both by way of own developments and acquisitions leading to huge amount of debt. ReNew Power Ventures, a renewable independent power producer, plans to raise $350 million in dollar-denominated bonds to refinance its existing debt. The company is currently conducting roadshows in Europe, people close […]
List of top 15 solar energy startups, helping India transition to sustainable energy sources
The world is quickly moving towards renewable energy as the pollution levels soar across the world and global warming threatens the planet’s ecosystem. Various measures have been taken by governments across the world to help the transition to clean and renewable sources of energy. Solar energy is invariably one of the most underutilised clean and […]
Adani Green Energy, ReNew Power only bidders in hybrid auction
Renew Power and Adani Green Energy made techno-commercial bids for 300 MW and 600 MW, respectively, people close to the development said. Adani Green EnergyNSE 1.50 % and ReNew Power were the only bidders in the latest tranche of Solar Energy Corporation of India’s wind solar hybrid tender for 1,200 MW of capacity that was […]