Ten subsidiaries of ReNew Power Pvt Limited listed their 7.25 year $585 million foreign currency bonds exclusively on Global Securities Market (GSM) of India International Exchange at GIFT International Financial Services Centre (IFSC) on Thursday. The 7.25 year maturity bonds have been assigned expected ratings of BB- (Positive Outlook) by Fitch Ratings and Ba3 rating by Moody’s investor services and are priced competitively at 4.50 per cent. India INX, a subsidiary of BSE Ltd, commenced its trading activities on January 16, 2017 and is India’s first International Exchange set up at GIFT City. V. Balasubramaniam, MD and CEO, India INX said, “We welcome ReNew Power on India INX and take even more pleasure in welcoming them as they have established a gateway for other Indian issuers to list exclusively on India’s own IFSC. This firmly reinforces INDIA INX and GIFT IFSC as a credible and competitive international jurisdiction for raising capital from global investors.
ReNew Power, India s Leading Renewable Energy Company, Announces The Commissioning Of 110 MW Solar Generation Project poweronline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from poweronline.com Daily Mail and Mail on Sunday newspapers.
Goldman-Backed ReNew to Invest $9 Billion in India’s Green Push
Bloomberg 1 hr ago Rajesh Kumar Singh
(Bloomberg) ReNew Power Pvt., one of India’s biggest renewable power producers, plans to invest $9 billion in wind and solar projects through 2025 amid a government-backed effort to reduce emissions.
The company, backed by investors such as Goldman Sachs Group Inc. and Canada Pension Plan Investment Board, aims to more than triple its renewable power capacity to 18.5 gigawatts by 2025, Chairman Sumant Sinha said in an interview. The Gurugram, India-based company will look at building its own projects as well as acquisitions for growth.
India, the world’s third-biggest emitter of greenhouse gases, aims to reduce its dependence on coal and expand renewable power capacity almost five-fold to 450 gigawatts by 2030, a $20 billion a year investment opportunity through the end of the decade, according to Prime Minister Narendra Modi. ReNew is positioning its
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ReNew Power (ReNew), one of India’s leading renewable energy companies, has announced that it has commissioned a 110 MW solar generation facility in the Indian state of Rajasthan.
As part of the project, ReNew has signed a power purchase agreement (PPA) with Solar Energy Corporation of India at a tariff of Rs2.49/kWh (US$0.034/kWh) and will provide clean energy to the state of Rajasthan. The 110 MW solar project commissioned by ReNew is a part of an eventual 2300 MW of solar capacity that ReNew is bringing online in Rajasthan. The balance of the 2300 MW of generation capacity will generate electricity to be fed into the national grid, aiding the achievement of India’s target of 450 GW of clean energy by 2030.