Renew Power, has raised $265 million in new equity from a subsidiary of Abu Dhabi Investment Authority, Goldman Sachs and Global Environment Fund, to increase its electricity generating capacity from clean sources.
As per the new round of funding, Abu Dhabi Investment Authority´s subsidiary will provide $200 million in funding for a ´significant minority stake,´ according to Sumant Sinha, Chairman, Renew Power.
Goldman Sachs, an existing investor will be add another $50 million in the company, taking its total investment to $370 million in the fourth-round. Global Environment Fund, another current investor will also be adding $15 million in additional capital to take its total funding to $35 million, he said.
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