Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
ReNew Energy Global Plc (NASDAQ:RNW, RNWWW), a leader in renewable energy solutions, has announced a significant investment from British International Investment PLC (BII), the UK’s development finance institution and impact investor. On Monday, ReNew revealed that it secured an investment of INR 8,700 million (approximately US$100 million) from BII. The funds will be directed towards the construction of a new 4 GW TOPCon solar cell facility in Dholera, Gujarat, and for general business expansion.
This strategic investment is expected to result in BII acquiring a stake of around 10% in ReNew Photovoltaics Private Limited, ReNew’s solar manufacturing arm. The final shareholding percentage may vary depending on the EBITDA for the fiscal year 2026. The closing of the investment is subject to the receipt of customary approvals, including those from lenders and anti-trust authorities.
ReNew Photovoltaics was established in 2021 and includes fully operational solar PV module facilities with a capacity of 6.4 GW and a solar cell facility of 2.5 GW, located in Jaipur, Rajasthan, and Dholera, Gujarat. The investment by BII is a testament to the growth potential of ReNew’s manufacturing capabilities and its commitment to advancing solar energy infrastructure.
ReNew Energy Global Plc is positioned as a major independent power producer in India and offers a comprehensive suite of decarbonisation solutions, including clean energy, value-added energy offerings through digitalization, storage, and carbon markets. The company has a substantial clean energy portfolio, totaling approximately 17.4 GWs on a gross basis as of February 14, 2025.
This press release contains forward-looking statements and is based on the current expectations, estimates, and projections of the company’s management. The actual results could differ materially from those anticipated due to various risk factors.
The information in this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.