ReNew Power has sold 117 MW/138 MWp of its distributed rooftop solar portfolio to Fourth Partner Energy Private Limited for Rs 6.72 billion.
After accounting for an outstanding debt of Rs 1.37 billion, the cash proceeds from the sale are Rs 5.35 billion. The sale reaffirms ReNew’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.