BII to invest $100 million in ReNew's solar parts maker

British International Investment (BII) is set to invest Rs 870 crore ($100 million) in ReNew Photovoltaics for a 10% stake, valuing the solar component manufacturer at $1 billion. This marks BII's first foray into solar component manufacturing in India, supporting ReNew's expansion plans to increase its capacity to 13 GW with a new solar cell factory in Gujarat.

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