Canada Pension Plan Investment Board has bought secondary shares in the renewable energy developer, which is backed by corporate JV Jera.
Canada Pension Plan Investment Board (CPPIB) agreed on Monday to pay $144m for a 6.3% stake in ReNew Power, an India-based renewable power producer backed by corporate joint venture Jera.
CPPIB, which manages funds on behalf of the government’s Canada Pension Plan scheme, acquired the shares from the multilateral Asian Development Bank (ADB), which had invested $50m in ReNew as part of a $140m round in 2014 before supplying $390m in debt financing in January 2017.
ReNew develops renewable energy…
