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

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?