ReNew sells 11% stake in unit for $95 million

ReNew has announced the sale of an 11% equity stake in its commercial and industrial power generation division, attracting $95 million from three strategic investors: Leapfrog Investments, Emerging Market Climate Action Fund, and Carlyle AlpInvest. This transaction values the division at an impressive $850 million and underscores the vital role of the C&I sector in India's journey towards decarbonization.