ReNew Energy Global Plc (NasdaqGS:RNW) is looking to sell 1 gigawatt of its operational clean energy capacity at an enterprise value of around $1 billion as part of the company's capital recycling strategy, two people aware of the development said. The assets on offer include solar and wind assets and have an equity value of around $300 million, the people said, requesting anonymity. ReNew plans to sell existing assets and reinvest the proceeds in building new clean energy assets.
ReNew has a 13.4GW portfolio with a commissioned capacity of 7.7GW. "If the value offered is good, capital recycling strategy is part of the plans for ReNew," one of the two people cited above said. ReNew is open to selling a minority stake at the project level or going for an asset sale if the valuation is good, the second person said.
In an emailed response to a query, a ReNew Energy spokesperson said, "This is to inform you that we do not want to comment on market speculations".
