India's ReNew eyes 2015 IPO

Indian renewables developer ReNew Power plans to stage an initial public offering (IPO) in 2015, its CEO said.

ReNew – whose main backer is US investment giant Goldman Sachs – operates 460MW of mostly wind capacity in five Indian states, and wants to hit 1GW by the end of next year.

CEO Sumant Sinha told the Wall Street Journal that the listing would aim to raise a "few hundred million dollars".

Last month Goldman Sachs put an extra $70m into ReNew, as part of $140m of new investment into the company.

The Indian renewables sector has been buoyed by early policy boosts from the country’s new government, which has signalled its intention to boost the nation’s energy infrastructure.