ReNew acquires 359 MW of RE assets in Uttarakhand and Telangana

ReNew Power(ReNew) has announced the acquisition of two renewable energy (RE) assets with a cumulative capacity of 359 MW.

The acquisition includes L&T Uttaranchal Hydropower Limited, which owns the SingoliBhatwari Hydroelectric Project (SBHEP), from L&T Power Development Limited.This acquisition of the 99 MW hydropower project marks the entry of the company into the hydropower sector. The other asset acquired by ReNew are 260MW/330MWp solar projects located in Telangana.The enterprise value of the acquisition is Rs 28.5 billion and it is expected to generate Rs 3.8 billion – Rs 4.0 billion of earnings before interest, taxes, depreciation, and amortization (EBITDA) annually

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