MUMBAI, July 3 India's ReNew Power Ventures Pvt
Ltd has raised $140 million from three investors, including a
private equity fund managed by Goldman Sachs, the
renewable energy firm said on Thursday.
Asian Development Bank invested $50 million, while Global
Environment Fund, a leading alternative asset investment firm
focused on energy, environment and natural resources, invested
$20 million, ReNew Power said in a statement.
Goldman Sachs, which had previously invested $250 million in
the company in 2011, pumped in the remaining $70 million.
ReNew Power owns and operates 460 MW of renewable energy
assets in five states across India and has another 500 MW
projects in the pipeline, including a 50 MW solar project in
The latest fund infusion will enable ReNew Power to scale up
as the company aims to double its clean energy portfolio to
1,000 MW by 2015, the statement said.
(Reporting by Indulal PM; Editing by Prateek Chatterjee)