Radiance mandates Rothschild to sell platform

Eversource Capital-backed Radiance Renewables Pvt. Ltd has mandated Rothschild & Co. for the sale of the platform that serves commercial and industrial (C&I) customers in a deal having a potential equity value of about $150 million, two people aware of the development said. Radiance currently has an operational portfolio of 500 megawatts (MW), and plans to build capacity to 2 gigawatts (GW) over three years.

- Utpal Bhaskar

Investors in Radiance Renewables include India’s quasi sovereign wealth fund National Investment and Infrastructure Fund (NIIF) and the UK government’s Foreign, Commonwealth Development Organisation (FCDO).

“The sale process is to be launched shortly," said one of the two people on the condition of anonymity.