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FORTUM SELLS INDIAN RENEWABLE ARM TO HEXA

Hindustan Times

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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 management company and carbon credits, two people in the know said.

There were five bidders in the sales process run by EY, including Japan' Marubeni Corp, Dutch pension fund APG and infrastructure fund manager AP Moller Capital. A total of 10 companie

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