{"id":464301,"date":"2022-01-28T08:50:51","date_gmt":"2022-01-28T03:20:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=464301"},"modified":"2022-01-28T09:29:26","modified_gmt":"2022-01-28T03:59:26","slug":"renew-power-sells-its-rooftop-solar-portfolio-to-fourth-partner-energy","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/renew-power-sells-its-rooftop-solar-portfolio-to-fourth-partner-energy\/","title":{"rendered":"ReNew Power sells its rooftop solar portfolio to Fourth Partner Energy"},"content":{"rendered":"<p>Nasdaq-listed ReNew Power sold its rooftop solar portfolio of 117 Mw to Bengaluru-based Fourth Partner Energy (FPE) at a value of Rs 672 crore. Fourth Partner Energy is backed by TPG and Norfund.<\/p>\n<p>ReNew in a public statement said the cash proceeds from the sale would stand at Rs 535 crore, after accounting for the debt of Rs 137 crore. With the sale, the run-rate-adjusted EBITDA for ReNew\u2019s total portfolio will be reduced by Rs 70-72 crore, the company said. <\/p>\n<p>Sumant Sinha, Chairman and CEO, ReNew Power, said, \u201cStrong capital discipline is a core value for ReNew. This sale illustrates the value that can be released through sale of assets and enhances our ability to capitalize on higher-return opportunities in the near term.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nasdaq-listed ReNew Power sold its rooftop solar portfolio of 117 Mw to Bengaluru-based Fourth Partner Energy (FPE) at a value of Rs 672 crore. Fourth Partner Energy is backed by TPG and Norfund. ReNew in a public statement said the cash proceeds from the sale would stand at Rs 535 crore, after accounting for the debt of Rs 137 crore. With the sale, the run-rate-adjusted EBITDA for ReNew\u2019s total portfolio will be reduced by Rs 70-72 crore, the company said. Sumant Sinha, Chairman and CEO, ReNew Power, said, \u201cStrong capital discipline is a core value for ReNew. This sale illustrates [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-464301","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/464301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=464301"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/464301\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=464301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=464301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=464301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}