Deepak Kochhar’s NuPower Weighs Sale Of Its Wind Power Plants


Deepak Kochhar’s NuPower Weighs Sale Of Its Wind Power Plants

NuPower Renewables Pvt. Ltd is exploring the sale of its wind power portfolio, said two people aware of the development.

The renewable energy company has tasked Ambit Capital with finding a buyer, one of the two people cited above said, requesting anonymity. NuPower has denied any such move.

“NuPower has been exploring a stake dilution opportunity and has been in talks with potential buyers for a partial or complete sale of its wind portfolio,” said the second person cited above, also on condition of anonymity.

Deepak Kochhar, founder and chief executive of NuPower Group, said: “There is no mandate given to Ambit. We are not selling any wind assets.” He was responding to queries in a text message. Read More…

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