Business Standard

ReNew Power likely to raise funds by selling assets after dropping IPO plan

The company isn't alone in withdrawing plans for an IPO or considering an infrastructure investment trust

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Anindya Upadhyay | Bloomberg New Delhi
India’s largest green energy company, ReNew Power, is considering raising funds through asset sales, after shelving plans for an initial public offering (IPO).

Backed by Goldman Sachs Group, the company has renewable assets of over 7 gigawatts, of which more than 4 gigawatts are operational. It makes sense to sell some assets when “the ability to execute and the opportunity to grow” exceeds the ability to finance projects and the company could “sell assets outright” or have co-investors, ReNew Power Chairman Sumant Sinha said, without elaborating on the amount of capacity sale or the funds being targeted.

“They can co-invest along with

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First Published: May 31 2019 | 10:42 PM IST

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