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Goldman-Backed ReNew Power Agrees To Merge With RMG II SPAC

  • India renewables company to have $8 billion enterprise value
  • Chamath Palihapitiya among investors to participate in deal

Photographer: Prashanth Vishwanathan/Bloomberg

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ReNew Power, India’s biggest renewable power producer, has agreed to merge with blank-check company RMG Acquisition Corp. II.

The deal will give Goldman Sachs Group Inc.-backed ReNew an enterprise value of $8 billion and will close in the second quarter, according to a statement Wednesday.