DivestmentAug 10, 2026, 06:32 AM
ReNew Energy Sells 1,055 MW Solar Projects for $532M
AI Summary
ReNew Energy Global Plc announced it has agreed to sell 1,055 MW of its solar projects in Rajasthan and Karnataka to Purvah Green Power Private Limited, a subsidiary of CESC Limited. The transaction is valued at approximately INR 50.8 billion (US$532 million) in enterprise value, with a portion contingent on future orders. This divestment is projected to generate approximately INR 18.1 billion (US$190 million) in cash inflow for ReNew, subject to closing adjustments.
Key Highlights
- ReNew Energy Global Plc agreed to sell 1,055 MW of solar projects.
- The projects are located in Rajasthan and Karnataka, India.
- The sale is to Purvah Green Power Private Limited for an enterprise value of approximately $532 million.
- Approximately $24 million of the value is contingent on change-in-law orders.
- The transaction is expected to generate about $190 million in cash inflow for ReNew.
Price Impact
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