ReNew Power eyes Morgan Stanley stake in Continuum
ReNew Power Ventures Pvt. Ltd has evinced interest in buying US investment bank Morgan Stanley’ majority stake in Continuum Green Energy (India) Pvt. Ltd, said two people aware of the matter.
Continuum currently has 807.4 megawatts (MW) of operational wind and solar assets. In addition, it has 1.07 gigawatts (GW) capacity under various stages of development.
“ReNew Power is looking at acquiring Morgan Stanley’s majority stake in Continuum,” one of the two people cited above said seeking anonymity.
Mint could not ascertain the value of the potential deal.
North Haven Infrastructure Partners, a global infrastructure fund managed by Morgan Stanley Infrastructure Partners, had in 2012 invested $212.03 million in Continuum. It has around 83% stake in the clean energy platform founded by Arvind Bansal and Vikash Saraf in 2009.
