India’s biggest renewable energy deal has been sealed

Goldman Sachs-backed ReNew Power has acquired three-year-old Ostro Energy to create the country’s largest clean energy firm by installed capacity.

In what is the biggest ever deal in the Indian renewable energy sector, ReNew Power will reportedly shell out around Rs10,800 crore (around $1.6 billion) for the acquisition, backed by Rs1,643 crore ($247 million) from the Canada Pension Plan Investment Board (CPPIB). Ostro Energy’s 1,100 megawatt (MW) of capacity is spread across Andhra...

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