India’s ReNew Energy Global Plc signed an agreement with Anzen to sell its entire stake in ReNew Sun Waves Pvt Ltd (RSWPL) at an enterprise value of USD 176 million, subject to adjustments. RSWPL, operating a 300 MW solar project in Jaisalmer, Rajasthan, has been under a 25-year PPA at Rs 2.55/unit for three years. An additional USD 17 million was expected as an earn-out from regulatory adjustments, including changes in customs duty, safeguard duty, and GST, after the initial payment.
ReNew Energy transferred RSWPL to Anzen for USD 176 million
RSWPL’s 300 MW Jaisalmer solar project operated under a 25-year PPA at Rs 2.55/unit for three years. (Image Credit/Source: KindelMedia/Pexels)
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