CPPIB sees green shoots in India's renewables market

As India's power needs increase, private equity is beginning to flow into the grid. CPPIB doubles down on its investment in Indian clean energy provider ReNew Power.

Canada Pension Plan Investment Board CPPIB is burnishing its green credentials by doubling down on its first investment in India's growing renewable energy market, underlining how investors are increasingly being drawn to the sector in the wake of the Indian government's ambitious targets.

In a release on Tuesday, CPPIB said it invested a further $247 million in the Gurugram-headquartered wind-to-solar group ReNew Power Ventures ReNew Power, having made an initial $144 million investment in January.   

The funding is to help support the purchase of another Indian wind farm operator, Ostro Energy Private Ostro Energy, bringing ReNew’s total...

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