ReNew Power raises $140 m

Renewable energy firm ReNew Power Ventures, on Thursday, said it had raised $140 million from three investors, taking the total equity investments in the company to $390 million (about Rs.2,200 crore).

Asian Development Bank invested $50 million, while Global Environment Fund invested $20 million and Goldman Sachs made additional equity investment of $70 million, ReNew Power said in a statement. Goldman Sachs had earlier invested $250 million in the company.

The latest round of funds will enable the company to scale up as it aims to double its clean energy portfolio to 1000 MW by 2015.