India's Second-Largest Renewable Energy Firm Is Going Private

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India's Second-Largest Renewable Energy Firm Is Going Private
IndiaRenewablesPrivatization
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Investors in ReNew Energy, India's second-largest renewable energy company, are considering taking it private for $2.82 billion, sparking debate about liquidity, growth, and the impact on future funding.

Investors in ReNew Energy, the second-largest renewables player in India are planning to take the company private, valuing it at $2.82 billion, Reuters has reported, citing filings with the U.S. Securities and Exchange Commission. The investors involved include the Canada Pension Plan Investment Board, Emirati Masdar , and the Abu Dhabi Investment Authority—the emirate’s sovereign wealth fund. These, together with the company’s chairman, Sumant Sinha, have 64% of the voting rights in the company.

On the other hand, CreditSights said, “It will ... introduce a new reputed UAE state-owned shareholder Masdar that could open up more funding channels in the UAE/Middle East,” and lower compliance and regulatory expenses for the company. ReNew Energy has a portfolio of 10.3 GW in generation capacity in solar, wind, and hydropower. Its stock has not been doing very well lately, however, having shed 18% since the start of the year despite ambitious transition plans by the Indian government.

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