Indian company ReNew Power has acquired Ostro Energy Private Limited in a deal which, according to a Reuters report, was valued at about Rs100bn rupees (€1.25bn).
The Canada Pension Plan Investment Board (CPPIB) invested US$247m to support the clean energy company’s acquisition, adding to its investment of $144m in January this year, ReNew Power said.
ReNew Power’s capacity will exceed 5.6GW following the acquisition, with 65% of portfolio capacity already operational.
Ostro Energy’s assets are spread across Andhra Pradesh, Karnataka, Telangana, Rajasthan, Madhya Pradesh and Gujarat.
ReNew Power lists Goldman Sachs, Abu Dhabi Investment Authority, JERA, the Asian Development Bank and Global Environment Fund as investors in the company.
Image: Pixabay
Big deal for Ostro in India
By EBS