Fresh Canada investments in Indian renewable firms may slow down: Bernstein

The diplomatic standoff between India and Canada is likely to affect Canadian investments in Indian renewable energy companies, which have received billions of dollars in past investments. The Canada Pension Plan Investment Board (CPPIB), which owns a 53 per cent stake in ReNew Power, may delay further investments in the Indian firm. The Indian government is also unlikely to permit CPPIB full control over ReNew Power, one of its largest renewable players, warned global brokerage firm Bernstein.

While this standoff does not affect any existing or pipeline projects, it diminishes the likelihood of CPPIB taking ReNew Power private, at least until further clarity emerges, Bernstein noted in a client advisory.