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
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?