Macquarie Asset Management is making a second attempt to sell its Indian renewable energy platform, Vibrant Energy, less than a year after abandoning its initial sale plan due to a valuation mismatch, according to multiple sources familiar with the matter. The Australian infrastructure investor has engaged Standard Chartered Bank to oversee the sale process. While the final valuation details remain undisclosed, Macquarie had previously sought around $500 million for Vibrant Energy. Vibrant Energy, which develops open-access renewable energy solutions, including wind and solar, for corporate and industrial clients, operates a renewable energy portfolio of approximately 800 MW with a 3 GW active pipeline. Earlier, Vibrant had engaged in discussions with potential buyers such as Bain Capital, Sun Energy, and Vitol, but the sale plan was shelved in April due to valuation discrepancies during the negotiations. At that time, JP Morgan had been advising Vibrant on the sale process. One source mentioned that, in comparison to the previous sale attempt, more projects have been completed and operational assets have been expanded. Vibrant Energy Holdings, based in Singapore, serves as the holding company for the current India portfolio through Aragorn Holding Company. Macquarie Corporate Holdings Pty owns about 90 per cent of Aragorn Holding, while the remaining shares are held by ATN International Inc. through various step-down subsidiaries. A spokesperson for Macquarie declined to comment. Vibrant Energy serves major clients in Andhra Pradesh and Telangana, with Amazon being its largest customer. It has entered into power purchase agreements (PPAs) with Amazon to develop around 500 MW of renewable energy capacity. In December 2022, Vibrant signed a PPA to establish 300 MW of renewable energy capacity in Madhya Pradesh and Karnataka. In 2023, it secured another PPA for a 198 MW wind farm project for Amazon in Maharashtra. Additionally, Vibrant has signed PPAs with Sify Technologies, a digital ICT solutions provider, to supply 231 MW of solar and wind energy for its hyperscale data centres. Other clients include Ultratech (21.6 MW) and Saint-Gobain India (75 MW). The demand for renewable energy is rising in India's commercial and industrial (C&I) sectors. According to a report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics, the C&I open access market saw a 90.4 per cent growth in annual installed capacity between the end of FY2023 and FY2024.