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CPPIB, ADIA-backed ReNew Energy weighs Nasdaq delisting, India market debut

VCCircle

VCCircle · 9m ago

CPPIB, ADIA-backed ReNew Energy weighs Nasdaq delisting, India market debut

Canada Pension Plan Investment Board (CPPIB), the largest shareholder of ReNew Energy Global Plc, is exploring the idea of taking the company private and listing it on stock exchanges in India. ReNew Energy, a green energy firm listed on Nasdaq, is considering the move to tap into the growing renewable energy market in India. This potential delisting and market debut in India could be a significant strategic move for ReNew Energy.

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IFC may plug $250M into ReNew’s C&I arm, valuing it at $800 million

Economic Times

Economic Times · 1m ago

IFC may plug $250M into ReNew’s C&I arm, valuing it at $800 million

An investor group led by the International Finance Corporation (IFC) plans to acquire a 30% stake in ReNew Power's commercial and industrial power generation unit for approximately $250 million. This investment values the unit at $800 million. ReNew Power provides renewable power to major customers such as Amazon and Microsoft. The deal is currently on hold as ReNew's management prioritizes delisting its parent company, ReNew Energy Global Plc, from Nasdaq.

Shell’s green play: Interest heats up for Sprng Energy's 1GW assets

Livemint

Livemint · 1y ago

Shell’s green play: Interest heats up for Sprng Energy's 1GW assets

Shell Plc is considering the sale of 1 GW of operational renewable energy assets from its Sprng Energy unit in India. The sale, which has an enterprise value of $1.1 billion, has attracted interest from global and domestic entities such as ArcelorMittal, Sembcorp Industries, CPPIB, and JSW Neo Energy. HSBC is overseeing the deal, following Shell's strategy to grow its renewables portfolio and accelerate the growth of its renewables portfolio while focusing on capital discipline. Other renewable energy companies in India, such as ReNew Energy Global, are also adopting capital recycling strategies to reinvest in new projects.

ReNew in talks with Singapore’s Sembcorp to sell 350 MW solar projects

Livemint

Livemint · 1y ago

ReNew in talks with Singapore’s Sembcorp to sell 350 MW solar projects

NASDAQ-listed ReNew Energy Global is in discussions with Sembcorp Industries to sell 350 MW of solar energy projects in a deal worth around $241 million. This comes after a previous deal for 1.1 GW of solar and wind power assets fell through due to a valuation gap on the wind assets. The current proposed transaction only involves the sale of solar projects. ReNew aims to sell operational clean energy capacity to reinvest in new clean energy assets. Sembcorp aims to have 25 GW of installed capacity by 2028. India's power demand continues to rise, driving several deals in the renewable energy sector.

Nvidia-backed CoreWeave's shares open nearly 3% lower in market debut

Economic Times

Economic Times · 5m ago

Nvidia-backed CoreWeave's shares open nearly 3% lower in market debut

CoreWeave, an AI infrastructure firm backed by Nvidia, had its shares open nearly 3% below the initial public offering price in its Nasdaq market debut. Despite this slight dip, the company was valued at $22.7 billion on a fully diluted basis.

ReNew aims to double green energy portfolio to 20 GW by FY28

Livemint

Livemint · 1y ago

ReNew aims to double green energy portfolio to 20 GW by FY28

Decarbonisation firm ReNew Energy Global Plc aims to double its renewable energy portfolio to 20 GW within the next four years. In the last fiscal year, the company added 1.94 GW of green energy assets, pushing its total capacity to over 10 GW. ReNew plans to focus on round-the-clock renewable energy projects and prefers battery energy storage systems for grid-scale implementation. They have a joint venture with Fluence to offer energy storage solutions in India. ReNew operates 150 renewable energy sites across 10 Indian states and contributed 10% to India's total solar and wind energy production in the last fiscal year.

ReNew Energy to set up $2.57 bn solar-wind hybrid project

VCCircle

VCCircle · 3m ago

ReNew Energy to set up $2.57 bn solar-wind hybrid project

ReNew Energy Global is investing $2.57 billion to develop a solar-wind hybrid project in Andhra Pradesh, India. The project will generate a total of 2.8 gigawatts (GW), comprising 1.8 GW from solar and 1 GW from wind energy, providing power during peak hours. As a major player in renewable energy, ReNew aims to support India's expanding clean energy requirements. The project aligns with India's goal to significantly increase non-fossil power capacity by 2030.

Expect renewable energy sector to see a turnaround: Hero Future Energies’ Srivatsan Iyer

VCCircle

VCCircle · 1y ago

Expect renewable energy sector to see a turnaround: Hero Future Energies’ Srivatsan Iyer

Hero Future Energies (HFE), a green energy company founded in 2012, is expecting a positive shift in the renewable energy sector. While HFE is currently smaller compared to competitors like Adani Green and Renew Power, the company believes that the sector will experience a turnaround. HFE is focused on expanding its presence and tapping into new opportunities in the renewable energy market in India.

Ether Machine, backed by crypto giants, set to raise over $1.6 billion in Nasdaq debut - The Economic Times

Economic Times

Economic Times · 1m ago

Ether Machine, backed by crypto giants, set to raise over $1.6 billion in Nasdaq debut - The Economic Times

The Ether Machine, backed by major crypto investors, plans to raise over $1.6 billion through a Nasdaq debut after merging with Dynamix Corporation. This venture will hold over 400,000 Ether, becoming a significant public vehicle for institutional Ethereum exposure. Amid growing interest in cryptocurrencies, this move underscores a trend towards integrating crypto assets into corporate balance sheets. The company will trade on Nasdaq under "ETHM" by late 2025, as institutional interest in Ethereum rises.

Bain Capital-backed Heartflow valued at $2.27 billion in solid Nasdaq debut - The Economic Times

Economic Times

Economic Times · 20d ago

Bain Capital-backed Heartflow valued at $2.27 billion in solid Nasdaq debut - The Economic Times

Medtech firm Heartflow, backed by Bain Capital, saw its shares surge 47.4% in a strong Nasdaq debut, valuing the company at $2.27 billion. The IPO raised $316.7 million by selling about 16.67 million shares at $19 each. Heartflow, known for its AI-enabled heart disease diagnosis tools, benefits from positive market sentiment amid AI-driven gains. Despite wider losses, its revenue rose 39% in the recent quarter, showcasing investor interest in AI healthcare solutions.

ReNew Energy's JV with Nasdaq-listed Fluence makes little headway

VCCircle

VCCircle · 3m ago

ReNew Energy's JV with Nasdaq-listed Fluence makes little headway

ReNew Energy's joint venture with Fluence Energy, aimed at advancing energy storage solutions in India, has shown little progress since its inception, according to industry executives. Despite being established in January 2022 as a 50/50 partnership, the venture hasn't demonstrated significant developments. This lack of tangible movement has been observed by at least four industry insiders, suggesting that the collaboration has yet to make a noticeable impact in the Indian energy storage market.

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