India: ReNew Power's Sumant Sinha raises $100m from Piramal unit ahead of IPO

India: ReNew Power's Sumant Sinha raises $100m from Piramal unit ahead of IPO

Founded in 2011 by Sumant Sinha, ReNew Power has now over 1,000 MW of operational capacity from its own wind and solar projects. Photo: Pradeep Gaur/Mint

Sumant Sinha, founder of Goldman Sachs-backed green energy producer ReNew Power Ventures Pvt. Ltd, has raised around $100 million in structured credit from Piramal Capital’s structured financing group (SFG) to raise his stake in the company ahead of a proposed initial public offering (IPO), two people aware of the development said.

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