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Sembcorp eyes ReNew's green energy projects
Mint Mumbai
|July 05, 2023
ReNew Energy's 1.1GW projects have estimated enterprise value of $1.2 bn
Singapore’s Sembcorp Industries Ltd is in talks to acquire green energy projects totalling 1.1 gigawatts (GW) from ReNew Energy Global Plc, with the deal estimated to be valued at $1.2 billion at the enterprise level and around $450 million in terms of equity, two people familiar with the development said.
Mint had earlier reported that Ahmedabad-based Torrent Power had submitted a non-binding offer for the same projects comprising solar and wind power assets of 350 megawatts and 750MW, respectively.
Sembcorp and Torrent Power had been vying for the acquisition of India Infrastructure Fund II, a private equity firm owned by US’s Global Infrastructure Partners, to buy Vector Green Energy Private Ltd, which Sembcorp Green Infra Ltd eventually acquired for an equity value of S$474 million, or $345 million. “Sembcorp is doing due diligence. Torrent is interested in the assets as well," said one of the two people cited above, seeking anonymity.
Dit verhaal komt uit de July 05, 2023-editie van Mint Mumbai.
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