ReNew Power is reportedly planning to acquire five renewable energy companies with a solar and wind portfolio aggregating a capacity of 680 MW, for Rs 60 billion. The acquisition, which is expected to materialise over the course of the next three to four months, will be funded by internal accruals, along with the proceeds of the IPO that the company intends to issue. The company is in advanced stages of negotiations with the promoters of these five companies which include India Energy (Mauritius) Limited, SREI Equipment Finance Limited and ES Energy. The company is expecting to complete the transaction by September 2018.
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