The company said it had signed definitive agreements for a primary equity raise of $700 million, in an official statement issued on Thursday.
There was no change in the shareholding structure after this investment, it added.
The company said the investment would be used towards capital expenditure in pumped storage projects, which will have storage capacity of more than 25 Gigawatt hours (GWh). This would enable 45 billion units of dispatchable carbon-free energy (CFE). Pumped energy storage uses the gravitational energy of water for energy storage.
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