February 14, 2017 / 10:48 AM / 8 months ago

Japan's JERA to invest $200 mln in India's ReNew Power

REUTERS - 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

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