Alternative Energy Firm ReNew Power Raises $300 Mn Via Rights Issue

Alternative Energy Firm ReNew Power Raises $300 Mn Via Rights Issue

SUMMARY

Among the shareholders subscribing to the issue are Goldman Sachs and Abu Dhabi Investment Authority

Shareholders were each given preference shares to be converted to equity at a subsequent date

Previously, ReNew Power had raised $350 Mn in debt funding as well as $435 Mn in green bonds

Clean energy firm ReNew Power announced on Sunday that it has raised $300 Mn (approximately INR 2,050 Cr) through a rights issue.

Among the existing shareholders who have invested in the issue are Goldman Sachs, Canada Pension Plan Investment Board (CPPIB) and Abu Dhabi Investment Authority (ADIA). Each of them, according to a company statement, invested $100 Mn.

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