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New Deal


Announced

Norfund and KLP to invest $9m in ReNew Power-backed Gadag Transmission.

Financials

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Transaction Value£7m
Consideration TypeCash
Capital Owned-
Capital Bid For49%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private Equity

Cross Border

India

Single Bidder

Acquisition

Pending

renewable energy

Minority

Friendly

Renewable Energy Equipment

Private

Synopsis

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Norfund, a private equity company, and KLP, an Oslo-based mutual insurance company, agreed to invest $9m in ReNew Power-backed Gadag Transmission, a transmission company. “Through the investment, we are helping to connect 2.5 GW of planned expanded solar and wind power in the south of the country to the national grid”, Bjørnar Baugerud, Norfund Head of Climate Investment Fund.

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