CLP India Eyes Essel Infraprojects’s Power Transmission Business


CLP  India Eyes Essel Infraprojects’s Power Transmission Business

CLP India Pvt. Ltd, one of the largest foreign investors in the Indian power sector, is interested in acquiring Essel Infraprojects Ltd’s power transmission business at a potential valuation of around $1 billion.

This makes it the second company—apart from Greenko Group, backed by Singapore’s sovereign wealth fund GIC Holdings Pte and the Abu Dhabi Investment Authority—to evince interest in acquiring these assets.

Mint reported on 15 January about Hyderabad-based Greenko’s interest in Essel Infraprojects’ transmission business amid low green energy tariffs in India that will likely squeeze project developers’ profitability.

“There are at least two firms who are eyeing Essel Infraprojects’ transmission business. They include CLP and Greenko Group,” said a person aware of the development requesting anonymity. Read More

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