ReNew Energy Global ( (RNW) ) just unveiled an announcement.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
ReNew Energy Global announced the sale of its subsidiary, ReNew Sun Waves Private Limited, which manages a 300 MW solar project in Jaisalmer, Rajasthan, to Anzen India Energy Yield Plus Trust. The transaction, valued at approximately $176 million, signifies a strategic move for ReNew to optimize its portfolio and potentially enhance its financial health through the sale, which includes an additional expected earn-out of $17 million contingent on regulatory changes.
More about ReNew Energy Global
ReNew Energy Global is a prominent player in the renewable energy sector, primarily focusing on solar and wind power projects. It operates with a market focus on sustainable energy solutions, contributing significantly to the clean energy transition.
YTD Price Performance: -9.92%
Average Trading Volume: 1,102,253
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.57B
See more insights into RNW stock on TipRanks’ Stock Analysis page.