L&T to sell 99 MW hydropower project in Uttarakhand to ReNew for Rs 985 cr

ReNew also announced signing of agreements for 260 MW/330MWp solar projects in Telangana. The combined enterprise value of the acquisitions is around Rs 2,850 crore ($384 mn)

In a major move in the renewable energy space, Larsen & Toubro announced its 99 MW power plant in Rudraprayag in Uttarakhand to ReNew Power, marking the entry of Sumant Sinha-led company into hydropower space. The two companies announced signing of binding agreements for the acquisition.

Simultaneously, ReNew also announced signing of agreements for 260 MW/330MWp solar projects in Telangana. The combined enterprise value of the acquisitions is around Rs 2,850 crore ($384 million). The company that is also on its way to be merged with an American blank cheque company or special purpose acquisition company (SPAC) said these deals would