ReNew Energy Global ( (RNW) ) just unveiled an announcement.
ReNew Energy Global announced the sale of its subsidiary, ReNew Sun Waves Private Limited, which manages a 300 MW solar project in Jaisalmer, Rajasthan, to Anzen India Energy Yield Plus Trust. The transaction, valued at approximately $176 million, signifies a strategic move for ReNew to optimize its portfolio and potentially enhance its financial health through the sale, which includes an additional expected earn-out of $17 million contingent on regulatory changes.
More about ReNew Energy Global
ReNew Energy Global is a prominent player in the renewable energy sector, primarily focusing on solar and wind power projects. It operates with a market focus on sustainable energy solutions, contributing significantly to the clean energy transition.
YTD Price Performance: -9.92%
Average Trading Volume: 1,102,253
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.57B
See more insights into RNW stock on TipRanks’ Stock Analysis page.