{"id":18758,"date":"2022-01-27T20:42:05","date_gmt":"2022-01-27T15:12:05","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-renew-power-divestment\/"},"modified":"2022-01-27T20:44:44","modified_gmt":"2022-01-27T15:14:44","slug":"biz-renew-power-divestment","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-renew-power-divestment\/","title":{"rendered":"ReNew Power sells 138 MWp distributed rooftop solar portfolio to Fourth Partner Energy for Rs 672 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4108709410\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Jan 27 (PTI) ReNew Power on Thursday said it has sold 138 megawatts peak (MWp) of its distributed rooftop solar portfolio for Rs 672 crore to Fourth Partner Energy.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4247687233\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> &#8220;ReNew Power, India&#8217;s leading renewable energy company, today (Thursday) announced that it has sold 138 MWp of its distributed rooftop solar portfolio to Fourth Partner Energy, one of India&#8217;s leading rooftop solar energy companies, for Rs 6.72 billion (USD 89.9 million or Rs 672 crore),&#8221; the company said in a statement.<\/p>\n<p> Fourth Partner Energy is an investee company of TPG and Norfund. After accounting for an outstanding debt of Rs 1.37 billion (USD 18.3 million or Rs 137 crore), the cash proceeds from the sale are Rs 5.35 billion (USD 71.6 million or Rs 535 crore).<\/p>\n<p> ReNew expects to record a gain from the deal. The sale reaffirms ReNew&#8217;s commitment to creating greater shareholder value through capital reallocation into higher-return opportunities and being more efficient by focusing more on large utility-scale projects, it stated.<\/p><div class=\"trade-content_5\" id=\"trade-3969230176\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> This allows the company to fully leverage its competitive advantages of scale, strong asset management, digital analytics and financing innovation, it said.<\/p>\n<p> ReNew Power Chairman and CEO Sumant Sinha said in the statement, &#8220;Strong capital discipline is a core value for ReNew. This sale illustrates the value that can be released through the sale of assets and enhances our ability to capitalise on higher-return opportunities in the near term.&#8221; PTI  KKS HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-887354683\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Jan 27 (PTI) ReNew Power on Thursday said it has sold 138 megawatts peak (MWp) of its distributed rooftop solar portfolio for Rs 672 crore to Fourth Partner Energy. &#8220;ReNew Power, India&#8217;s leading renewable energy company, today (Thursday) announced that it has sold 138 MWp of its distributed rooftop solar portfolio to Fourth [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-18758","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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