KKR eyes multiple platforms for renewable assets in India

Private equity giant is vying for larger assets, like Sprng Energy, through its Asia fund

- Sneha Shah

KKR, Blackstone, Brookfield, Actis, and Macquarie have been looking at building platforms by acquiring assets.

KKR plans to own multiple independent platforms for renewable energy assets in India, a key market for the global private equity giant, where it is betting on infrastructure and financial services to consumer technology.

KKR is vying for larger assets, such as Sprng Energy and Gentari, directly through its Asia fund, rather than via its renewable energy platform, Serentica. “The idea is to have multiple energy platforms in the country,” said a person with knowledge of the firm's strategy.

“The assets are large, and Serentica does not have the debt gearing or equity to finance those deals. The firm is planning to bid independently. Renewables is a sector they are globally betting big on,” said a second person aware of the matter—both spoke on the condition of anonymity.