Investors Eye Enel's 760 MW Renewable Assets in India
POWER & RENEWABLE ENERGY

Investors Eye Enel's 760 MW Renewable Assets in India

About half a dozen investors, including UAE's Masdar Energy, Singapore's Sembcorp, JSW Energy, Torrent Power, Sekura Energy, and ONGC, have submitted non-binding bids to acquire 760 MW of operational assets in India from Italy's Enel Group.

HSBC is advising Enel on the sale, which may have an enterprise value of $500 million (?4,100 crore). The portfolio of Enel Green Power India includes 760 MW of operational wind and solar power assets, with a development pipeline of 2 gigawatts (GW). The operational capacity comprises 420 MW from solar power projects and 340 MW from wind power.

Last year, the Norwegian Climate Investment Fund, managed by Norfund, and KLP, Norway's largest pension company, committed $100 million for a 168 MW wind power plant developed by Enel Green Power in India. In 2020, Norfund and Enel Green Power entered into a joint investment agreement for renewable energy projects in India, with their first project, the 420 MW Thar solar plant, announced in 2022.

Founded in 2008, Enel Green Power (EGP) operates over 63 GW of installed renewable capacity across 1,300 plants globally. EGP strengthened its position in India by acquiring a majority stake in BLP Energy for ?30 million (?220 crore) in 2015.

Energy producers Sekura Energy, Sembcorp, and Masdar Energy are also contenders for Brookfield's 2 GW renewable portfolio in India, estimated to be worth $800 million-1 billion (?6,600-8,300 crore). JSW Neo Energy and Sekura Energy are bidding for a controlling stake in Ayana Renewable Power, valued at about $2 billion.

ONGC is pursuing assets in the clean energy space as part of its decarbonization efforts, aiming for a renewable energy capacity of 10 GW by 2030 with an investment of ?1 lakh crore.

The renewable energy sector's outlook in India remains stable, bolstered by strong government policy support, superior tariff competitiveness, and sustainability initiatives by large commercial and industrial customers.

About half a dozen investors, including UAE's Masdar Energy, Singapore's Sembcorp, JSW Energy, Torrent Power, Sekura Energy, and ONGC, have submitted non-binding bids to acquire 760 MW of operational assets in India from Italy's Enel Group. HSBC is advising Enel on the sale, which may have an enterprise value of $500 million (?4,100 crore). The portfolio of Enel Green Power India includes 760 MW of operational wind and solar power assets, with a development pipeline of 2 gigawatts (GW). The operational capacity comprises 420 MW from solar power projects and 340 MW from wind power. Last year, the Norwegian Climate Investment Fund, managed by Norfund, and KLP, Norway's largest pension company, committed $100 million for a 168 MW wind power plant developed by Enel Green Power in India. In 2020, Norfund and Enel Green Power entered into a joint investment agreement for renewable energy projects in India, with their first project, the 420 MW Thar solar plant, announced in 2022. Founded in 2008, Enel Green Power (EGP) operates over 63 GW of installed renewable capacity across 1,300 plants globally. EGP strengthened its position in India by acquiring a majority stake in BLP Energy for ?30 million (?220 crore) in 2015. Energy producers Sekura Energy, Sembcorp, and Masdar Energy are also contenders for Brookfield's 2 GW renewable portfolio in India, estimated to be worth $800 million-1 billion (?6,600-8,300 crore). JSW Neo Energy and Sekura Energy are bidding for a controlling stake in Ayana Renewable Power, valued at about $2 billion. ONGC is pursuing assets in the clean energy space as part of its decarbonization efforts, aiming for a renewable energy capacity of 10 GW by 2030 with an investment of ?1 lakh crore. The renewable energy sector's outlook in India remains stable, bolstered by strong government policy support, superior tariff competitiveness, and sustainability initiatives by large commercial and industrial customers.

Next Story
Infrastructure Energy

Gujarat Adopts Tariff for Solar Projects

Gujarat has taken a significant step in its renewable energy journey by adopting tariffs for solar projects, reflecting its commitment to sustainable energy sources. This move aligns with global efforts to transition towards cleaner and greener power generation. Gujarat's decision to adopt tariffs for solar projects underscores its proactive approach to harnessing solar energy's potential. This initiative is part of the state's broader strategy to promote renewable energy and reduce reliance on traditional fossil fuels. The adoption of tariffs for solar projects in Gujarat signifies a pivotal ..

Next Story
Infrastructure Transport

Bihar's Railway Goes Solar, 10 MW Projects

Bihar's railway sector is undergoing a significant transformation with the implementation of 10 MW solar projects. These projects mark a pivotal shift towards sustainable energy practices within the state's railway infrastructure. The primary objective behind these initiatives is to reduce the carbon footprint of railway operations while simultaneously enhancing operational efficiency. The adoption of solar energy in Bihar's railway network reflects a broader commitment to environmental sustainability. By harnessing solar power, the railway aims to minimize its reliance on conventional energy ..

Next Story
Infrastructure Energy

GPCL Issues Consultancy for Storage Project

In a strategic move towards bolstering its energy storage capabilities, Gujarat Power Corporation Limited (GPCL) has issued a consultancy tender for a storage project. This initiative reflects GPCL's proactive approach in adopting advanced technologies to address the evolving needs of the power sector. The consultancy tender marks a crucial step towards integrating efficient energy storage solutions, ensuring a more resilient and sustainable power infrastructure. The storage project, facilitated through the consultancy tender by GPCL, signifies a shift towards innovative solutions for storing ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000

Join us Telegram