HomeGreen TechnologyNasdaq-Listed ReNew Energy In Talks To Promote 1.1 Gigawatts Of Renewable Initiatives

Nasdaq-Listed ReNew Energy In Talks To Promote 1.1 Gigawatts Of Renewable Initiatives

Considered one of India’s largest personal renewable energy challenge builders — ReNew Energy — could also be seeking to promote over 1 gigawatt of photo voltaic and wind energy initiatives.

In line with media stories, ReNew Energy is in talks with Torrent Energy, an built-in energy firm with a footprint throughout India, to promote 350 megawatts of photo voltaic and 750 megawatts of wind power belongings. The enterprise worth of those belongings is estimated at round $1.2 billion. Nonetheless, in accordance with sources, negotiations on valuation are underway, with Torrent Energy having submitted a non-binding proposal for these initiatives.

Torrent Energy operates throughout the facility sector worth chain. It owns plenty of thermal energy initiatives, providers almost 4 million shoppers as a distribution utility throughout plenty of cities, and likewise operates transmission infrastructure. The corporate additionally owns over a gigawatt of renewable energy capability and is creating an extra 715 megawatts of capability.

In line with a slew of media stories, ReNew Energy has been seeking to promote belongings to lift capital to repay excellent debt and enter new ventures. The corporate has tied up with Larsen & Toubro and Indian Oil to develop a inexperienced hydrogen ecosystem. It has additionally introduced partnership with Elsewedy Electrical to arrange an $8 billion inexperienced hydrogen challenge in Egypt. The corporate is working with AES and Fluence to develop power storage options. ReNew has additionally introduced plans to arrange photo voltaic cell and module manufacturing services.


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