CPPIB in talks to acquire stake in ReNew Power

The Canada Pension Plan Investment Board (CPPIB) is in talks to acquire Goldman Sachs’s stake in ReNew Power Limited. Goldman Sachs is planning to sell around 20 per cent stake through private sale.

Goldman Sachs currently owns 48.6 per cent stake in ReNew Power, while CPPIB holds 16.2 per cent. Goldman Sachs was ReNew Power’s first investor, while CPPIB had made a $391 million investment in the company earlier this year. Apart from CPPIB, several other investors such as Macquarie Group, Canada’s OMERS (Ontario Municipal Employees Retirement System), etc. have shown interest in acquiring Goldman Sachs’s stake. ReNew Power has renewable project pipeline of approximately 5.85 GW across wind and solar projects of which 3.92 GW is reportedly operational.

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