Deals
ReNew Power Buys Ostro Energy in India's Largest Renewables Deal
- Deal is said to have an enterprise value of over $1.5 billion
- ReNew Power’s combined assets to be more than 5.6 gigawatts
Photographer: Chris Ratcliffe/Bloomberg
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ReNew Power Ventures Pvt. acquired Ostro Energy Pvt. in India’s largest renewable energy transaction, which is said to be more than 100 billion rupees, according to people with knowledge of the matter.
The company is said to have paid 40 percent in equity and the rest in debt for acquiring Actis LLP-backed Ostro Energy, the people said, asking not to be identified as the information isn’t public. ReNew Power spokesman Pradeep Wadhwa declined to comment on the deal value.