Climate Investment Fund of Norway and KLP invest in ReNew Power’s transmission project

The new Norwegian Climate Investment Fund, managed by Norfund in collaboration with KLP, Norway’s largest pension company, will make its first investment of Rs 900 million in a ReNew Power transmission project in India. Norfund and KLP will invest approximately Rs 900 million in ReNew Power for a 49 percent ownership stake in ReNew’s transmission project in the Koppal district of Karnataka, with plans for additional joint investments.

The project will include a 5 x 500 MVA 400/220 kV substation at Koppal, as well as a 400 kV D/C quad moose transmission line from Koppal to Narendra New and a 400 kV GIS Extn at Narendra New in Karnataka (Koppal Project). Its commercial operations will begin in the first quarter of 2024.

Recently in December 2022, Partners Group, a Swiss investment firm decided to buy a majority stake in Gurugram-based renewable energy company Sunsure Energy for Rs 32.9 billion. The investment will help Sunsure to execute its portfolio of renewable projects and provide new services to commercial and industrial customers.