Q4 2017 highlights VC/PE funding

ReNew Power Ventures - an Indian renewable energy project developer - secured ~$200 million (~Rs.13 billion) from the Canada Pension Plan Investment Board in the form of compulsory convertible preference shares (convertible debt) that will convert to equity shares at the time of an initial public offering.

Waaree Energies, an Indian solar module manufacturer and EPC services provider, raised Rs.1 billion (~$15.6 million) from Centrum Financial Services, the non-banking finance arm of the Centrum Group and a private equity (PE) firm. The funding will be used for its expansion plans.
 
Indian rooftop solar developer CleanMax Solar raised a $15 million (~Rs.980 million) investment from the International Finance Corporation (IFC) in the form of compulsorily convertible debentures. The investment marks the first time that IFC has purchased equity shares in a distributed-generation firm.