Solar and wind developer ReNew Power Ltd is planning to go public in India
The IPO could attract more than $1 billion, with Global Environment Fund, Green Rock and a Goldman Sachs selling around 94.4 million shares, an unnamed source told Reuters. Raising that amount could make this one of the largest listings in the South Asian country in 2018.
The company, founded in 2011, counts Goldman Sachs and the Canada Pension Plan Investment Board among its backers. Both institutional investors have representatives on ReNew Power's board.
Early in April, CPPIB increased its holdings in the company to $391 million. Through this investment, ReNew will have more funds to acquire Ostro Energy Pvt. Ltd. and boost its capacity to more than 5,600 MW.
Canada
In support of the project, the Uzbekistan government has granted sovereign guarantees in purchasing power from the project and is providing SkyPower with numerous benefits, including exemption from certain customs payments and corporate income taxes, according to AzerNews.
Designed to help the country achieve its commitments under the Paris climate agreement, the solar project is estimated to contribute $2.9 billion to Uzbekistan's gross domestic product and raise the country's renewable capacity to 10% of total generation. Uzbekistan currently relies mostly on fossil fuels for its energy needs.
Solar again accounted for the largest capacity allocation in Netherlands
The latest round fell short of the 2,353 MW solar allocation in the first round, despite the program receiving applications for total solar capacity of 3,221 MW. Solar PV also did not get the largest financial commitment, receiving €2.32 billion of the €6 billion total compared to wind power at €2.76 billion, pv magazine said.
Elsewhere
* A planned 1,500-MW solar farm will be the largest in Australia
* Brazil
* GE Renewable Energy
* Iran,
* The EDF Group commissioned 200 MW of solar capacity, bringing online the first unit of the 800-MW Dewa III facility, in Dubai, United Arab Emirates
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