Abu Dhabi Future Energy Company, better known as Masdar, has withdrawn from the investor consortium that planned to take Indian clean energy company ReNew EnergyAbu Dhabi Future Energy Company, better known as Masdar, has withdrawn from the investor consortium that planned to take Indian clean energy company ReNew Energy

Masdar confirms leaving ReNew buyout consortium

2025/12/17 11:55

Abu Dhabi Future Energy Company, better known as Masdar, has withdrawn from the investor consortium that planned to take Indian clean energy company ReNew Energy Global private.

In a statement to AGBI, Masdar confirmed it had pulled out of the bidding consortium for shares not already owned by the consortium.

“Masdar is committed to further international investment, following several successful transactions in the last 12 months,” the statement said.

The company aims to reach a portfolio capacity of 100 gigawatts (GW) by 2030 and has a strong growth pipeline to achieve that ambition, it added.

State-owned Masdar was leading the four-member consortium, which controls almost two-thirds of ReNew.

The company informed the other members — the Canada Pension Plan Investment Board, the Abu Dhabi Investment Authority and ReNew founder Sumant Sinha — about its decision on Sunday, ReNew said in a US Securities and Exchange Commission filing.

“As a result, the consortium will no longer pursue the proposed transaction,” the filing added.

Further reading:

  • Masdar diverts billions from hydrogen for power-hungry AI
  • Masdar IPO could help accelerate Gulf’s energy transition
  • Masdar secures nearly $5bn funding for UK wind farm

The consortium had revised up its offer by 15.3 percent to $8.15 per share in October, from the initial bid of $7.07 per share made in December 2024.

ReNew shares, which are listed on the Nasdaq, fell nearly 28 percent on Monday to a 52-week low of $5.26 following Masdar’s pullout. The stock closed 6 percent lower at $5.19 on Tuesday.

In December, the consortium announced plans to take ReNew Energy private.

“With the negotiations dragging out for so long […] Masdar’s board seems to have taken a call to focus elsewhere,” India’s Economic Times reported, quoting unidentified sources. 

As of September 30, ReNew’s portfolio comprised about 18.5GW of clean energy projects, including those still under construction. 

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