Japanese energy company JERA, through a subsidiary, has acquired a 10% stake in ReNew Power Ventures for US$200 million, by subscribing to newly issued shares of ReNew.
JERA is a joint venture between Tokyo Electric Power Company and Chubu Electric Power Company, which covers the entire energy supply chain from upstream fuel investment and fuel procurement to power generation. This is its first major investment in the renewable energy sector.
ReNew Power, one of India’s largest renewable energy companies, develops and operates wind and solar projects. It currently operates 1.5 GW of assets and has 1.8 GW of assets under construction.
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