One of India’s largest private renewable power project developers — ReNew Power — may be looking to sell over 1 gigawatt of solar and wind power projects.
According to media reports, ReNew Power is in talks with Torrent Power, an integrated power company with a footprint across India, to sell 350 megawatts of solar and 750 megawatts of wind energy assets. The enterprise value of these assets is estimated at around $1.2 billion. However, according to sources, negotiations on valuation are underway, with Torrent Power having submitted a non-binding proposal for these projects.
Torrent Power operates across the power sector value chain. It owns a number of thermal power projects, services nearly 4 million consumers as a distribution utility across a number of cities, and also operates transmission infrastructure. The company also owns over a gigawatt of renewable power capacity and is developing an additional 715 megawatts of capacity.
According to a slew of media reports, ReNew Power has been looking to sell assets to raise capital to repay outstanding debt and enter new ventures. The company has tied up with Larsen & Toubro and Indian Oil to develop a green hydrogen ecosystem. It has also announced partnership with Elsewedy Electric to set up an $8 billion green hydrogen project in Egypt. The company is working with AES and Fluence to develop energy storage solutions. ReNew has also announced plans to set up solar cell and module manufacturing facilities.
Complete our 2022 CleanTechnica reader survey for a chance to win an electric bike.
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
In a world filled with uncertainty, being prepared for emergencies is essential. When faced with unexpected situations, the first survival tool you need is the ability to make the right choices. Whether it’s selecting the right portable solar generator, stocking up on survival food, or investing in a reliable water filtration system, making informed decisions
Read MoreIn “Veterans’ Insights on COVID-19: Perspectives and Challenges,” gain valuable perspectives from veterans about navigating through the ongoing pandemic. Discover their unique experiences and the challenges they face, providing you with an inside look at how veterans are adapting and overcoming obstacles during these unprecedented times. With their insightful perspectives, this article sheds light on
Read MoreIn the midst of the ongoing COVID-19 pandemic, it is crucial to prioritize maintaining our health and well-being in order to prevent the occurrence of a second wave. With the uncertainty surrounding the virus and its potential to resurge, taking proper precautions has become more important than ever. From practicing good hygiene and social distancing
Read MoreWhen it comes to building a survival stockpile, one of the most essential items to include is water. Water is not only vital for hydration, but it is also necessary for tasks such as cooking, cleaning, and sanitation. However, storing water can be a challenge, as it can easily become contaminated or go bad over
Read MoreDuring the ongoing COVID-19 pandemic, it is crucial to provide guidance and support to vulnerable individuals who may be at higher risk. This article aims to offer helpful tips and suggestions to ensure the well-being and safety of those who may be more susceptible to the virus. From practical advice on hygiene practices, to recommendations
Read MoreIf you’re the proud owner of a Patriot Power Cell, you’re in luck! This quick start guide will provide you with all the information you need to get started on maximizing the potential of your power cell. From charging your devices to understanding the various features and functions, this guide will ensure that you have
Read MoreGet the best deals in tactical gear and training to your inbox daily!