Kolkata-based Atha Group plans to sell its 365 MW energy assets
POWER & RENEWABLE ENERGY

Kolkata-based Atha Group plans to sell its 365 MW energy assets

Atha Group is leaving their clean energy business by selling 365 MW assets, which are spread over seven states. The deal is estimated to value the assets at an industry price of Rs 2,000 crore.

Avendus Capital is the legal advisor on Atha Group's sale procedure. Leading players like Ayana Power, Edelweiss Infrastructure, O2 Power received feelers.

Atha Group has 200 MW assets in Tamil Nadu, 50 MW in Maharashtra, 20 MW in Karnataka, 15 MW in Telangana, and remaining in Madhya Pradesh and Rajasthan. The bids are likely to be in by 25 of this month.

Atha Group firms in 2017, NVR Energy and Narbheram Vishram, won the bid to supply 200 MW of solar power to Tamil Nadu Generation and Distribution Corporation (TANGEDCO) out of the 2,000 MW capacity to be developed by TANGEDCO.

Besides renewable energy, Atha Group is 60 year old and is diversified into power & steel, iron-ore mining, and Calcined petroleum coke.

Many conventional power manufacturers are selling a huge portfolio of their assets in the previous years. Major purchasers are the marquee private equity funds-backed renewable platforms.

Since 2017, India has drawn investments of Rs 1.32 lakh crore in the renewable energy sector. Currently, the renewable energy capacity of India is around 95 GW, with 40.5 GW of solar power.

The renewable energy (RE) capacity of India is likely to grow from 10.5 GW to 11 GW in the FY 2021-22, following a strong project pipeline of around 38 GW.

It is estimated that the RE sector would see investments of Rs 3.5 trillion in the upcoming four years, increasing the share of RE capacity from 25% (March 2021) to 34% by March 2025, driven by the solar power sector.

Image Source


Also read: ReNew Power to buy 260 MW operational solar in Telangana

Also read: GSECL floats tender for 224 MW grid connected solar projects

Atha Group is leaving their clean energy business by selling 365 MW assets, which are spread over seven states. The deal is estimated to value the assets at an industry price of Rs 2,000 crore. Avendus Capital is the legal advisor on Atha Group's sale procedure. Leading players like Ayana Power, Edelweiss Infrastructure, O2 Power received feelers. Atha Group has 200 MW assets in Tamil Nadu, 50 MW in Maharashtra, 20 MW in Karnataka, 15 MW in Telangana, and remaining in Madhya Pradesh and Rajasthan. The bids are likely to be in by 25 of this month. Atha Group firms in 2017, NVR Energy and Narbheram Vishram, won the bid to supply 200 MW of solar power to Tamil Nadu Generation and Distribution Corporation (TANGEDCO) out of the 2,000 MW capacity to be developed by TANGEDCO. Besides renewable energy, Atha Group is 60 year old and is diversified into power & steel, iron-ore mining, and Calcined petroleum coke. Many conventional power manufacturers are selling a huge portfolio of their assets in the previous years. Major purchasers are the marquee private equity funds-backed renewable platforms. Since 2017, India has drawn investments of Rs 1.32 lakh crore in the renewable energy sector. Currently, the renewable energy capacity of India is around 95 GW, with 40.5 GW of solar power. The renewable energy (RE) capacity of India is likely to grow from 10.5 GW to 11 GW in the FY 2021-22, following a strong project pipeline of around 38 GW. It is estimated that the RE sector would see investments of Rs 3.5 trillion in the upcoming four years, increasing the share of RE capacity from 25% (March 2021) to 34% by March 2025, driven by the solar power sector. Image Source Also read: ReNew Power to buy 260 MW operational solar in Telangana Also read: GSECL floats tender for 224 MW grid connected solar projects

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?