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ReNew Power takes over Ostro Energy

FPJ Bureau | Updated on: Wednesday, May 29, 2019, 11:04 PM IST

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New Delhi : Clean energy firm ReNew Power said on Monday that it has acquired Ostro Energy, in a deal estimated to be Rs 10,200 crore, enhancing its portfolio to 5,600 MW.

This strategic investment helps the company consolidate its position further in the fast-growing, clean energy sector in India, ReNew Power said in a statement.

The company did not disclose the deal size.

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A source said, however, that the ReNew Power has acquired Ostro Energy for around Rs 10,200 crore. The statement said ReNew has green energy assets of more than 4500 MW, which include a commissioned capacity of approximately 2800 MW.

The Ostro Energy has a total capacity of more than 1100 MW, out of which nearly 850 MW is already commissioned. With the acquisition of these assets, ReNew Power’s capacity will now exceed 5600 MW. Over 65 per cent of the combined portfolio capacity is already operational, it added.

This is the largest acquisition for the company till date.

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Published on: Tuesday, April 03, 2018, 12:15 AM IST