Anagram Partners advises ReNew Power on $193M sale of 300 MW solar asset in Rajasthan

Anagram Partners advised ReNew Power on the $193 million sale of its entire stake in ReNew Sun Waves Pvt Ltd (RSWPL) to Anzen India Energy Yield Plus Trust. ReNew Power has formalized the transaction by signing a definitive agreement.

RSWPL operates a 300-megawatt solar power asset located in Jaisalmer, Rajasthan.

The transaction team was led by Rajesh Simhan (Partner) and comprised of Shwetank Chaubey (Principal Associate) and Manoj Mahapatra (Senior Associate).

In December 2024, ReNew Energy Global Plc inked a definitive agreement to sell its entire stake in ReNew Sun Waves Pvt. Ltd. to Anzen India Energy Yield Plus Trust (AnZen Trust) for an enterprise value of approximately $176 million, subject to adjustments.

The Nasdaq-listed company also expects an additional $17 million earn-out from changes in law proceeds related to customs duties and taxes. Taking the total value of the transaction to $ 193 Million.

Founded in 2011, ReNew is a leading decarbonization solutions provider with 16.3 GW of commissioned and pipeline utility-scale projects. ReNew offers decarbonization solutions through utility-scale wind and solar offerings, green hydrogen, carbon markets, and energy storage and leveraging digital technologies to accelerate the transition to green energy and address the unique requirements of the B2B segment in India.

AnZen Trust is a diversified and growth-oriented energy InvIT focusing on high quality energy assets, with an initial AuM of over INR 2,300 cr. AnZen Trust invests in energy assets including transmission lines and renewable power projects to provide long term predictable yield and growth to its investors.

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