Resource detail
Title: Japan’s JERA acquires 10% stake in ReNew Power for $200 million
Source:Mint
Date:15 February 2017
RERA Co. Inc. has bought a 10% stake in ReNew Power Ventures Pvt. Ltd before a proposed initial public offering of the clean energy firm, valuing the company at $2 billion. Set up in 2015, JERA is an equal joint venture between Japan’s largest utility Tokyo Electric Power Co. (TEPCO) and Chubu Electric Power Co.This comes in the backdrop of ReNew Power initiating discussions with investment banks for an IPO. JERA’s portfolio of power projects include plants in Thailand, Indonesia, Vietnam, the Philippines, Taiwan, Qatar, Oman, the United Arab Emirates, the US, Canada and Mexico.
Read more
