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ReNew Power acquires Ostro Energy to become country's largest RE company

CPPIB invests $247 million in ReNew to support the acquisition

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Last Updated : Apr 03 2018 | 2:37 AM IST

ReNew Power became the largest renewable energy company in India after it acquired Ostro Energy on Monday. The deal size is estimated to be $1.55 billion (Rs 100 billion), the biggest deal in the renewable energy sector.

The deal is funded in a 60:40 equity-debt ratio with the company open to debt refinancing later, according to persons close to the development. Canada Pension Plan Investment Board (CPPIB) had pumped in $247 million to assist ReNew in finalising the deal, the company said. Before this deal, Tata Power Renewables’s acquisition of Welspun Energy was the largest in the sector at Rs

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