ReNew Power Ventures buys 103 MW of Indian wind projects
India's largest independent power producer ReNew Power Ventures has acquired KCT Renewable Energy, owner of 103 MW of operational wind parks in Andhra Pradesh, from Karm Chand Thapar Group for INR10bn ($155m). The deal includes three wind parks that are selling their output at a tariff of INR4.80 per kWh under 25-year power purchase agreements. ReNew Power now has wind power assets of over 1,300 MW, about 200 MW of which are in Andhra Pradesh.
Indian independent power producer ReNew Power Ventures Pvt Ltd has acquired KCT Renewable Energy Pvt Ltd, the owner of 103 MW of operational wind parks in Andhra Pradesh.

The acquisition from Karm Chand Thapar (KCT) Group has been confirmed by a ReNew Power executive, consultancy Mercom Capital said on Wednesday. The value of the deal, which is part of the power producer’s growth plan, exceeds INR 10 billion (USD 155m/EUR 131.6m).

The transaction included three wind parks that are selling their output at a tariff of INR 4.80 per kWh under 25-year power purchase agreements (PPAs). The unnamed executive was cited as saying that ReNew Power now has wind power assets of over 1,300 MW, some 200 MW of which are located in Andhra Pradesh.

ReNew Power is majority owned by Goldman Sachs Group Inc (NYSE:GS). Among its other investors are the Asian Development Bank, Japanese power company JERA Co Inc and Abu Dhabi Investment Authority. Last month, the Canada Pension Plan (CPP) Investment Board also joined the list.

(INR 10 = USD 0.156/EUR 0.132)

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