Japan’s Mitsui to acquire 49% stake in ReNew’s RTC project

NEW DELHI: Japanese trading and investment giant Mitsui has agreed to acquire a 49% stake in the country’s first round-the-clock renewable energy project being developed by ReNew Power, the company said on Wednesday without disclosing the deal size.
“Our partnership with a leading and respected conglomerate like Mitsui shows the significant and fast-rising global interest in India’s energy transition and in ReNew as the right experienced partner to participate in it. We are confident that our partnership with Mitsui will set the tone for future alliances in this sector. Corporates globally and in India are seeing this historic energy shift in India and are keen to join it,” ReNew chairman Sumant Sinha told TOI.
The deal with Mitsui follows ReNew entering a joint venture for green hydrogen with IndianOil and L&T.