Several investors are reportedly committing $300 million to Goldman Sachs–backed energy company, ReNew Power, the leading solar and wind company in India.
The commitments come on the heels of an unsuccessful initial public offering launch, which was deferred due to low investor interest. In May, ReNew had filed draft IPO documents with regulators to raise up to $1 billion before it was postponed.
Investors include Goldman Sachs, Canada Pension Plan Investment Board and Abu Dhabi Investment Authority. Japan’s JERA, a consortium of two of the biggest Japanese utility companies, also holds a 10 percent stake in ReNew, but was not part of the $300 million commitment.
The company’s renewable assets total more than 7 gigawatts, 4 gigawatts of which are operational.
