The world's top buyer of liquefied natural gas JERA Co said on Tuesday it has agreed to invest about $200 million to take a stake in Indian renewable power producer ReNew Power Ventures Private Ltd.
JERA, a fuel joint venture between Tokyo Electric Power and Chubu Electric Power, said it would acquire a 10 percent stake through a third-party share allocation. The move marks the largest investment in renewable business overseas, it added.
ReNew Power, a solar and wind power producer that owns about 1.5 gigawatt worth of installed operating capacity, is currently building another 1.8 GW worth of capacity, Jera said.
(Reporting by Osamu Tsukimori; Editing by Vyas Mohan)