Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Fortum sells Indian renewable arm to Hexa
Mint Bangalore
|April 28, 2025
Finland's state-run energy utility Fortum Oyj is exiting India's renewable energy market by selling its platform Fortum India Pvt. Ltd (FIPL) to New York-based I Squared Capital-backed Hexa Climate Solutions in a deal that includes its management company and carbon credits, two people in the know said.
There were five bidders in the sales process run by EY, including Japan's Marubeni Corp, Dutch pension fund APG and infrastructure fund manager AP Moller Capital. A total of 10 companies, including steel and mining major ArcelorMittal, signed non-disclosure agreements for the deal called project Samsara.
Mint couldn't ascertain the value of the deal that marks an important point in the third-largest Nordic utility Fortum's exit from India, a market that it entered in 2012.
This story is from the April 28, 2025 edition of Mint Bangalore.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Bangalore
Mint Bangalore
GDP revamp shrinks size of India’s economy
India’s economy is now smaller than previously thought. New estimates based on an updated methodology and base year have shrunk the nominal output by over ₹3 trillion ($133 billion), validating concerns over the size of the economy.
3 mins
February 28, 2026
Mint Bangalore
Deepinder Goyal's only-fit hiring plan may test legal limits
Zomato founder Deepinder Goyal's call for engineers for his longevity venture, Temple, came with a caveat-they need to be supremely fit.
2 mins
February 28, 2026
Mint Bangalore
Supplement makers swap expensive whey for plants
Soaring whey prices are reshaping India’s fast-growing protein supplement market, squeezing margins and forcing companies to redraw growth strategies as consumption rises.
2 mins
February 28, 2026
Mint Bangalore
The couple who made anti-fit a hit
Nicobar's Simran Lal and Raul Rai, partners in business and life, on creating a niche for everyday wear that's relaxed yet stylish
5 mins
February 28, 2026
Mint Bangalore
GDP grows at faster 7.8% in Q3 under new series
FY26 growth outlook raised to 7.6% from 7.4%; CEA pegs Q4 pace at 7.3% or more
3 mins
February 28, 2026
Mint Bangalore
Foreign investor buying fails to soothe edgy Street
buoyed metal and oil & gas stocks, said experts, Both sectors emerged as the week’s top performers.
2 mins
February 28, 2026
Mint Bangalore
SC chides losing bidders trying to stall insolvency
Losing bidders cannot seek a second chance by portraying the CoC's commercial decisions as procedural flaws, the SC said.
2 mins
February 28, 2026
Mint Bangalore
Paramount-Warner deal set to reshape Indian cinema
Netflix is backing away from its proposal to buy Warner Bros Discovery
2 mins
February 28, 2026
Mint Bangalore
Looking beyond spectacle at Kochi
Smartphones have turned viewers of art into consumers, eager to flaunt what they've seen. Is it time for some close looking?
6 mins
February 28, 2026
Mint Bangalore
Goyal's only-fit hiring plan may test legal limits
and therapists, insurance policies that include partners and even gender surgeries.
1 min
February 28, 2026
Listen
Translate
Change font size