Norwegian state-owned power company Statkraft AS and global private equity (PE) fund Actis Llp are separately looking to acquire the Indian hydroelectric assets of Singapore’s Equis Pte. Ltd, valued at around ₹2,700 crore, said one person aware of the development, requesting anonymity.
Equis-owned Hydreq owns and operates two hydroelectric plants in Sikkim, which produce a combined 220 megawatts (MW). The sale of Hydreq was proposed after a group of investors led by Global Infrastructure Partners announced plans to acquire Equis Energy for $5 billion in October 2017. Equis Energy was focused on solar and wind power projects.
The sale process for Hydreq is being managed by EY. Others have also shown interest in Hydreq’s assets. Mint earlier reported that Greenko Group and Tata Power Ltd were interested in buying the two hydropower plants. Read More