By: Utilities Middle east

Abu Dhabi Future Energy Company (Masdar) has withdrawn from a consortium that was pursuing the privatisation of India’s ReNew Energy Global, causing the proposed transaction to collapse, according to a news report by Zawya.

In a filing with the US Securities and Exchange Commission, the Nasdaq-listed renewable energy company said the consortium—led by Masdar and comprising Platinum Hawk, a wholly owned subsidiary of the Abu Dhabi Investment Authority, Canada Pension Plan Investment Board (CPP Investments) and ReNew founder, chairman and chief executive Sumant Sinha—will not proceed with the buyout offer.

ReNew said its board-appointed special committee was disappointed by Masdar’s withdrawal, which resulted in the termination of all discussions related to the proposed transaction. The decision followed an extended period of engagement between the committee, its advisers and the consortium, during which the proposed offer price was revised upwards.

The offer price was initially set at $7.07 per share in cash when the proposal was announced in December 2024, before being increased to a final offer of $8.15 per share in October 2025, according to the filing.

Following news of Masdar’s exit, Zawya reported that ReNew’s shares fell nearly 28% in Monday’s trading to a 52-week low of $5.26. Rothschild & Co acted as independent financial adviser on the transaction, while Linklaters served as independent legal counsel.

ReNew is India’s second-largest clean energy producer after Adani Green Energy, with an operating portfolio of 10.3 gigawatts of solar, wind, hydro and hybrid assets across the country. Data from LSEG shows that CPP Investments and ADIA are the company’s two largest shareholders, holding stakes of 31.3% and 23.8%, respectively.