ReNew Power said the addition of SBHEP, which has a pondage capacity of 2-3 hours, adds 200–300 Mw of low-cost hydro storage to ReNew’s portfolio.
Infrastructure major Larsen & Toubro (L&T) sold its 99-megawatt (Mw) hydro power project to ReNew Power, marking its entry in the hydro sector.
Separately, ReNew, which is set to list on the New York Stock Exchange, also acquired 260 Mw/330Mwp of operating solar project in Telangana. It pegged the combined enterprise value of the two acquisitions, including L&T’s project, at Rs 2,850 crore ($384 million).
First Published: Aug 11 2021 | 9:46 PM IST