Goldman-backed ReNew Power plans asset sale as IPO shelved

Goldman-backed ReNew Power plans asset sale as IPO shelved

India’s largest green energy company, ReNew Power Ltd., is considering raising funds through asset sales, after shelving plans for an initial public offering.

Backed by Goldman Sachs Group Inc., the company has renewable assets of over 7 gigawatts, of which more than 4 gigawatts are operational. It makes sense to sell some assets when “the ability to execute and the opportunity to grow” exceeds the ability to finance projects and the company could “sell assets outright” or have co-investors, ReNew Power Chairman Sumant Sinha said, without elaborating on the amount of capacity sale or the funds being targeted.

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