Maharashtra, with an installed generation capacity of 13,602 MW, is set to become power surplus. Industry majors including Tata Power, Adani Power, Torrent Power, SoftBank Group, ReNew Power and Waaree Energies will invest a whopping Rs 1.30 lakh crore in generation (thermal, gas, solar and wind), transmission and distribution.
Economic Times reported that the renewable energy sector in India is on the road to consolidation and players with smaller portfolios are looking at exiting the market as returns are shrinking in the face of lower tariffs and uncertainty on the policy front.
ReNew Power Ventures Pvt. Ltd is exploring the acquisition of Waaree Energies Ltd’s solar power projects as it seeks to consolidate its position as India’s largest clean energy firm before a planned initial public offering (IPO), two people aware of the development said.
India’s largest clean energy producer, Re-New Power, has picked Goldman Sachs, Kotak and JM Financial to advise on a planned $700 million (Rs 4,480 crore) initial public offering of shares that could see some of its early investors such as Goldman Sachs and Abu Dhabi Investment Authority make a partial exit, people briefed on the matter said.
ReNew Power Ventures Pvt. Ltd is close to acquiring Ostro Energy Pvt. Ltd, the company that holds the renewable energy assets of buyout firm Actis Capital, for an enterprise value of Rs10,000 crore, according to two people directly aware of the development.