ReNew Power sold Karnataka wind farms to Aiyana Renewable for Rs 1600 crore

It is said that a legal dispute has been discussed between the Karnataka government-owned power distribution company and ReNew Power, which is to be resolved.



Karnataka (Natural Energy News): ReNew Power has sold its Karnataka wind farms to UK-government supported Aiyana Renewable for Rs. 1600 crores according to people aware of the case.


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In the six-month-long negotiations over the run-up to the deal, the two sides signed definitive agreements to transfer Renfe's portfolio in the four Karnataka districts of Raichur, Bijapur, Belgaum and Bellary. The windmill can generate 300 MW of energy.

It is said that a legal dispute has been held between the Karnataka government-owned power distribution company and ReNew Power, which is yet to be resolved. The deal is not completed on the resolution of the dispute. ReNew is a supplier of electricity to Karnataka Discom.

ReNew Power declined to comment. Ayana Renewable did not respond to questions.

The deal with Aiyana will help Raven Power reduce debt and generate cash.


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The Goldman Sachs-backed company is selling parts of its portfolio as a strategy for Sach Demonetization's assets that are mature according to sources and generate returns for shareholders.

“ReNew will look at the sale of such assets to Churn Capital. Some long-term investors are willing to pay a good price for assets that can generate assured income for many years such as wind power plants. With its strong manufacturing capacity, the company can use it to its advantage ”, said a source close to the company.

The company hopes to reap investment in new energy projects to use the profits derived from such a profitable division, the source explained.

ReNew Power has raised its Rs. As a part of, a cluster of windmills was acquired in Karnataka. 10,000 crore acquisition of Ostro Energy, a renewable energy platform owned by private equity group Actis, two years ago.


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The Delhi-headquartered green energy major, founded by former investment banker and first-generation entrepreneur Sumant Sinha, grew rapidly in capacity just a decade ago and is arguably India's largest renewable with 8.65 GW of wind and solar power generation capacity. Energy company.

The company meanwhile has also provided loans as part of its expansion drive. Its latest available balance sheet shows that it has a debt burden of Rs. 25,000 crores Rs. It earned a total income of Rs. 4790 crores in the year 2018-19.

Aiyana Renewables is owned by the CDC Group, the development finance arm of the UK government. Indian National Investment and Infrastructure Fund (NIIF) and Eversource Capital are also investors in Aiyana.


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