The Canada Pension Plan Investment Board (CPPIB) has become the majority owner of ReNew Energy Global Plc by acquiring $268.6 million worth of shares from Goldman Sachs.
As per regulatory filing, the transaction was completed at $4.8 per share, and CPPIB now owns over 76 million Class A shares, one Class D share, and over 118.363 million Class C shares, taking its total economic interest to 51.6%.
ReNew has different classes of shares, with voting rights only vested with Class A shares.
Goldman Sachs has been offloading its shares of ReNew recently, in a bid to comply with US laws. Moody’s Investors Service sees the stake sale as a credit positive for RPPL, as it provides more visibility into RPPL’s long-term shareholder structure.
ReNew Power, now known as ReNew, is involved in developing emerging decarbonization solutions like green hydrogen, energy storage, carbon markets, and solar manufacturing, and is poised to further the net-zero transition goals.
CPPIB, is a professional investment management organization that invests the funds of the Canada Pension Plan. CPPIB manages a diversified portfolio of investments, including public equities, private equities, real estate, infrastructure, and fixed income instruments. CPPIB has significant investments in the renewable space.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
 has acquired over 51% of ReNew Energy Global Plc by purchasing $268.6 million worth of shares from Goldman Sachs. The stake sale is seen as credit positive for ReNew, which is involved in developing decarbonization solutions.){kind=link}