Torrent Power to buy 1.1 Gw green energy capacity from ReNew Energy: Report
Torrent Power is in talks with ReNew Energy Global to buy green power plants totalling 1.1 gigawatts (GW) for $1.2 billion, a report by Mint said. The Ahmedabad-based company has submitted a non-binding offer (NBO) for ReNew’s solar and wind assets of 350 and 450 Mw for $450 million.
Media reports in November 2022 stated ReNew’s plan to sell its operational, clean energy capacity as part of its capital recycling strategy. The proceeds will be reinvested in building new green energy assets.
