ReNew Power Ventures Pvt. Ltd. ("ReNew Power"), India's leading renewable energy independent power producer, has announced an equity fund raise of $200 million for a 10 percent stake in the company through the subscription of newly issued shares by JERA Co., Inc. ("JERA"), a leading Japanese power company with a global presence. Following the company's founding six years ago, this latest investment round now values ReNew Power at $2 billion.

JERA is a joint venture between two of Japan's largest utilities companies, Tokyo Electric Power Co., Inc. and Chubu Electric Power Co., Inc. As one of the world's leading energy firms its capabilities expand across in the entire energy supply chain, from participation in LNG and other fuel resource projects and fuel procurement, through fuel transportation to power generation.

JERA currently operates approximately 6 GW of energy assets globally across North America, the Middle East and SE Asia. This investment in ReNew Power, marks its first entry into India's energy sector.

Yuji Kakimi, President of JERA, said, "As a ReNew Power shareholder, we will seek to contribute to the company by making available technical, operational, project development, and management experience gained through our global power businesses.

"We look forward to strengthening our relationship with ReNew Power and making a positive contribution to India's economic growth and environmental sustainability by leveraging and augmenting ReNew Power's success in developing its renewable energy capacity."

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