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India’s ReNew Power sells stake to Abu Dhabi sovereign fund: Reuters

(Reuters) Indian solar and wind energy company ReNew Power Ventures Pvt Ltd sold a “significant minority stake” to a subsidiary of Abu Dhabi Investment Authority (ADIA) for $200 million, the company said in a statement.

ADIA’s investment was part of a broader $265-million fundraising by new and existing investors in ReNew Power Ventures, it added. Financial adviser Rothschild advised the Abu Dhabi sovereign wealth fund.

ReNew Power will use the funds as capital expenditure for its solar and wind projects, according to the statement.