According to Bloomberg, the Canadian Pension Plan is considering buying out Renew Energy (RNW).Canadian Pension Plan already is a majority owner (51%) and is reportedly considering buying out the rest. Stock price was up 20%+ on the news.
ReNew is one of the largest renewable energy providers and asset managers in India. While the company has continued to grow at a steady pace since IPOing, the stock price has been cut in half, most recent trading in the $4 range.
Personally, I feel that ReNew is a unique and very well run company that provides you with exposure to both the Indian and renewable energy market, and has shown they are a proven operator. Valuation currently is at $2.1B, with a renewable energy portfolio of about 13GW installed or under contract.
Disclosure: long $RNW
[link] [comments] https://www.reddit.com/r/stocks/comments/125kfsc/canada_pension_explores_buying_out_renew_energy/
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