India Inc India Inc: Thursday, 16 February 2017 05:38

Japan’s Jera invests $200mn in ReNew

Japan’s energy supply chain firm Jera has invested $200 million in India’s ReNew Power.

The Japanese company has picked up a 10 per cent stake in ReNew, valuing the Gurgaon-based solar and wind energy company at $2 billion.

“As a ReNew Power shareholder, we will seek to contribute to the company by making available technical, operational, project development, and management experience gained through our global power businesses,” Jera president Yuji Kakimi said in a statement.

JERA has business interests across the energy value chain in businesses such as liquified natural gas and coal supply.

ReNew Power has 3.2 GW of operational and under construction capacity from its own wind and solar projects. It has set a target of over 11 GW of wind and solar power capacity over next five years.

It has also secured long term $390 million debt funding from the Asian Development Bank (ADB).

India Investment Journal’ has been tracking this issue

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