ReNew Power gets CPPIB backing to acquire Actis’ green energy platform Ostro

ReNew Power Ventures Private Limited has acquired Ostro Energy Private Limited from PE firm Actis Capital for an undisclosed amount. Further, the existing investor, the Canada Pension Plan Investment Board, will make an additional investment of $247 million in ReNew Power to finance the acquisition, increasing the combined investment in the company to $391 million. With the acquisition, the aggregate capacity of ReNew Power will increase from 4,500 MW to 5,600 MW and enable it to further strengthen its position in the energy market.