CLP India, a big investor in the country’s power sector, has emerged as the frontrunner to buy a part of Mahindra Susten’s solar power portfolio, sources with knowledge of the matter told Moneycontrol.
Mahindra Susten is the renewable energy arm of the $20 billion Mahindra & Mahindra Group and the estimated enterprise value of the select solar assets on the block is between Rs 2,000-3,000 crore, sources said.
“CLP India is currently in advanced negotiations with Mahindra Susten for buying select assets of its domestic solar portfolio but a term-sheet hasn’t been signed as yet. M&M is more of an EPC player and not a developer. Their model is to build portfolios, sell them and churn capital,” one of the sources cited above told Moneycontrol.
“It is a good quality portfolio which is up for sale. CLP India predominantly has a wind focused portfolio, hence they are keen on this deal to diversify. Read more
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