Why India’s largest renewable energy producer wants to sell its assets in Karnataka

ReNew Power, India’s largest renewable energy IPP, is in talks with more than half a dozen domestic and international investors to sell its 300-MW solar assets in Karnataka, as the company faces the heat of tariff renegotiation in Andhra Pradesh and issues of pending receivables from loss-making discoms.

According to people in the know, “ReNew is in talks with GIC and CPPIB among various other investors to sell their 300 MW solar assets in Karnataka, where 30% of their assets are located. The company is looking for cash to deploy in its under construction and upcoming projects of around 3,000 MW capacity.”