ReNew Power in talks with PE firm to raise $200 million
ReNew Power Ventures Pvt. Ltd, a renewable energy producer, is in talks with Switzerland-based private equity (PE) firm Partners Group AG to raise $150-200 million.
“The talks are at an advanced stage,” a person aware of the development said, requesting anonymity.
ReNew Power, in which Goldman Sachs Group Inc. has a majority stake, intends to use the money for generating 400 megawatts (MW) of solar power.
Founded in 2011 by Sumant Sinha, ReNew Power has close to 600MW of installed and operational clean energy capacity across Maharashtra, Rajasthan, Karnataka, Gujarat, Madhya Pradesh and Haryana.