India-based Wind Energy Producer ReNewed with $140M
July 07, 2014
ReNew Power Ventures has obtained $140 million from Asian Development Bank, GEF SACEF India and Goldman Sachs. The company owns and operates 460 megawatts of renewable energy assets in five states (Gujarat, Haryana, Karnataka, Maharashtra and Rajasthan) across the country. Additionally, it has a pipeline of another 500MW, including a 50MW solar project in Madhya Pradesh. ReNew also currently is implementing a data analytics and business intelligence platform to monitor its assets in real-time and perform online diagnostics to improve overall wind farm performance. With the new capital, ReNew aims to double its clean energy portfolio to 1000MW by 2015.