JERA picks up 10% in ReNew Power for $200 mn

Marking entry of Japanese strategic investors, deal takes ReNew's value to $2 bn

Japan’s JERA has picked up a 10 per cent stake in ReNew Power Ventures. The deal size is estimated to be $200 million, through subscription of newly issued shares.

This investment — taking ReNew’s value to $2 billion (Rs 13,400 crore) — marks the entry of Japanese strategic investors in the renewable energy market in the country.

JERA is a joint venture between two of Japan’s largest utility companies: Tokyo Electric Power Company and Chubu Electric Power. It currently operates approximately 6 GW of energy assets globally, across North America, West Asia and Southeast Asia.

SoftBank was the first Japenese firm to