ReNew Power Ventures Pvt. Ltd., a Gurgaon, Haryana, India-based renewable energy developer, received an investment from US$144M.
Canada Pension Plan Investment Board (CPPIB) made the investment acquiring a 6.3% stake in the company from the Asian Development Bank.
Founded in 2011 and led by Sumant Sinha, Chairman and CEO, ReNew Power is a renewable energy developer with clean energy capacity diversified across wind, utility-scale solar and rooftop solar power-producing assets.
It is an Independent Power Producer (IPP) of clean energy with close to 3,000 MW of commissioned and under-construction clean energy assets. Of this, more than 2000 MW assets are already commissioned. Currently, it operates in thirteen states (Gujarat, Haryana, Himachal Pradesh, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Telangana, Tamil Nadu, Jharkhand, Punjab, Delhi NCR and Andhra Pradesh) across the country.