ReNew Power to acquire KC Thapar’s wind assets for Rs 10 billion

ReNew Power Ventures Private Limited will acquire the wind power assets of the KC Thapar Group for Rs 10 billion. In one of the biggest deals in the renewable energy sector in 2017-18 so far, ReNew Power will acquire three fully operational plants of the group in Andhra Pradesh, aggregating 103 MW. These projects are two projects of 40 MW and 39.1 MW at Molagavalli in Kurnool district and a 24 MW project at Borampalli in Ananthapur district, supplying power to Andhra Pradesh discoms at Rs 4.80 per unit under 25-year long-term contracts. The deal will increase the commissioned wind energy portfolio of ReNew Power from around 1,500 MW to 1,600 MW and expand its wind energy footprint in the state to 88.2 MW.