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BII Takes 10% Stake for $100 Mn in ReNew Arm
Mint Mumbai
|May 07, 2025
BII backs ReNew Photovoltaics in its first solar manufacturing bet in India
British International Investment (BII) has invested $100 million in the solar module and cell manufacturing subsidiary of Nasdaq-listed ReNew Energy Global Plc. The UK government entity will acquire a 10% stake in ReNew Photovoltaics Ltd, valuing the subsidiary at $1 billion, according to a filing with the Securities and Exchange Commission.
The investment will be deployed towards adding 4 gigawatts of solar module and cell manufacturing capacity. ReNew has 6.4 GW of module capacity and 2.5 GW of cell capacity. The cumulative capacity of ReNew will be about 13 GW following the capacity addition.
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