Japan's Mitsui & Co. and Osaka Gas have submitted non-binding offers to purchase a 30% stake in the portfolio of 2.3 gigawatts (GW) commercial and industrial projects owned by
ReNew Energy Global Plc. The deal, which is expected to have an equity value of roughly $300 million, is a component of ReNew Energy Global's capital recycling strategy. Moelis & Co. is in charge of the sale process. One of India's leading clean energy companies, the company has funded $400 million by offering senior-secured green bonds. It has capital expenditure projections of 35,000 crore rupees.
A 49% share in ReNew Energy's 1.3GW renewable energy project and 100MWh battery storage farm was purchased by Mitsui last year. The 63 nations where the Japanese corporation is active are home to its operations in the chemical, infrastructure, and energy sectors. One of Japan's biggest importers of natural gas, Osaka Gas also runs enterprises involved in the production and distribution of electricity.
