ReNew Power forms JV with Korean co for 300 MW solar power plant in Rajasthan

ReNew Power has entered into a joint venture with South Korea based GS E&C for the execution of its 300 MW solar power plant in Rajasthan. The project is part of the capacity auctioned by Solar Energy Corporation of India (SECI) under its tranche-IV auctions concluded earlier this year, the company said in a statement.

GS E&C is one of South Korea’s largest construction and development firms and part of the GS Group, with an asset base of over $58 billion. This investment will mark the entry of GS E&C in the Indian renewable energy sector. As a part of the deal, ReNew Power will hold a majority 51per cent equity under the partnership, while the GS E&C will hold the balance.