NEW DELHI (Commodity Online): Goldman Sachs Group, Inc. has invested Rs 1000 in the renewable energy sector of India. The investment is done in ReNew Wind Power.
The Renew wind power is yet to start operation; the company will set up an 85 mega watt (mw) in Gujarat and Maharashtra by March 2012 and expects to install 1 giga watt (gw) by 2015.
The deal is considered as the biggest equity deal in the renewable energy sector.
India's renewable energy sector has been grown rapidly in the past few years and installed capacity of 20,162 mw, which is more compared to the gas power plants' total capacity of 17,706 mw.
ReNew Wind Power has been founded by the son of BJP leader and former finance minister Yashwant Sinha, Sumant Sinha. He started his career as an investment banker, was earlier the chief operating officer of the world's third-largest wind turbine maker Suzlon Energy.
The Goldman Sachs Group, Inc. (NYSE: GS) is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients.
