ReNew Power has announced the acquisition of Ostro Energy Private Limited. ReNew Power currently has green energy assets of more than 4500 MW, which include a commissioned capacity of approximately 2800 MW. Ostro Energy has a total capacity of more than 1100 MW, out of which nearly 850 MW is already commissioned.
With the acquisition of these assets, ReNew Power’s capacity will now exceed 5600 MW. Over 65% of the combined portfolio capacity is already operational. Ostro Energy’s assets are spread across Andhra Pradesh, Karnataka, Telangana, Rajasthan, Madhya Pradesh and Gujarat. Concurrent with this transaction, Canada Pension Plan Investment Board (CPPIB) is investing an additional US$247 million to support ReNew Power’s financing for this acquisition. As a result, the CPPIB’s combined investment in ReNew Power now stands at US$391 million, following an earlier investment of US$ 144 million in January 2018.