ReNew Signs Share Purchase Agreement With India Grid Trust o Sell A 300 MW Solar Project Tor Total Enterprise Value Of $199M
Portfolio Pulse from Benzinga Newsdesk
ReNew Power has signed a share purchase agreement with India Grid Trust to sell a 300 MW solar project for a total enterprise value of $199 million. This transaction is part of ReNew's asset monetization strategy and will help in deleveraging its balance sheet.
January 08, 2024 | 2:36 pm
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POSITIVE IMPACT
ReNew Power's sale of a 300 MW solar project to India Grid Trust for $199M is likely to have a positive impact on the company's financials by aiding in debt reduction and asset monetization.
The sale of the solar project is directly related to ReNew Power and is a significant transaction for the company. It indicates a positive move towards asset monetization and balance sheet strengthening, which can be viewed favorably by investors. This could lead to a short-term positive impact on RNW's stock price as it reflects the company's proactive approach to managing its assets and liabilities.
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