ReNew Power is seeking to raise capital through the sale of 300 MW of solar capacity in India, according to unnamed sources. The move by ReNew Power, which has been an acquirer of renewable assets in India, comes at a volatile time for the country's renewable energy sector. The Andhra Pradesh government has recently backed out of power purchase agreements signed by the state's previous government. In its latest financial report, filed with India's Securities and Exchange Board on Tuesday, ReNew Power said it had raised $110 million from investors including Goldman Sachs Group Inc. (GS.N) and Morgan Stanley (M@@
ReNew Power is seeking to raise capital through the sale of 300 MW of solar capacity in India, according to unnamed sources. The move by ReNew Power, which has been an acquirer of renewable assets in India, comes at a volatile time for the country's renewable energy sector. The Andhra Pradesh government has recently backed out of power purchase agreements signed by the state's previous government. A delay in payments by state utility boards has also led to a squeeze in the working capital of companies.