Mumbai: Goldman Sachs Inc, Canada Pension Plan Investment Board and Abu Dhabi Investment Authority, the existing investors of ReNew Power, are putting in an additional $300 million into the green energy company through a rights issue, people with knowledge of the matter told ET.
Proceeds from the issue may be used for a combination of purposes. These include financing business growth and repaying existing debt taken for inorganic growth plans executed earlier. “The company wants to increase confidence levels among investors with the proposed fund mop-up,” said one of the persons cited above. ReNew is said to be repaying some debt obligation coming up in the next few months.
