10 Percent Stake of Jera in ReNew Power for $200 Million
A ten percent stake has been picked up by Jera Co, Japanese energy supply chain in ReNew Power for $200 million, leading to valuing of the solar and wind energy company at $2 billion.
Yuji Yakimi, Jera President stated that, as a shareholder of ReNew Power, they will aim to contribute towards the company by providing operational, technical, project development as well as management experience gained through their global power business.
Jera’s investment marks its entry into the energy sector. Jera which happens to be an equal joint venture between Chubu Electric Power Co and Tokyo Electric Power Co and is the world’s largest LNG importer operating 6GW energy assets across the Middle East, South East Asia and North America.
So far, $650 million has been raised by ReNew Power in equity from ADB, Goldman Sachs and ADIA. Chairman of ReNew Power, Sumant Sinha stated that so far, the company has drawn $1.5 billion debt.
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