Canada Pension Plan Investment Board has invested an additional $247 million in ReNew Power Ventures, a clean energy firm in India. The new investment brings the pension fund’s total investment in the company to $391 million.
CPPIB’s additional investment will support ReNew Power’s acquisition of Ostro Energy Private, an Indian renewable energy developer with total capacity of more than 1,100 megawatts. With the acquisition of Ostro Energy’s assets, ReNew Power’s capacity will increase to more than 5,600 megawatts.
At Dec. 31, 2017, CPPIB’s investments in India totaled C$6.4 billion ($5.02 billion).
