Aditya Birla Group has hired Standard Chartered to sell up to 49% stake in the group's renewable energy business to raise around $400 million, two people aware of the development said, as the conglomerate aims to bolster its position in India's rapidly growing clean energy sector. Aditya Birla Renewables aims to establish 4.5GW of installed renewable energy capacity by FY2026 through utility and commercial and industrial (C&I) projects, building upon its current project portfolio of 2GW, that comprises of existing and upcoming projects. With strong investor interest in the mature C&I segment, it offers insulation from risks such as power procurement curtailment by discoms. Open access allows large power users to buy power from the open market rather than relying on the more expensive grid.
In October 2015, Aditya Birla Group agreed to partner with Abraaj Group to build a large-scale renewable energy platform in India. However, the plan was shelved due to the Abraaj Group's collapse.
A spokesperson for Standard Chartered declined to comment. Queries emailed to the spokesperson for Aditya Birla Group on 13 February remained unanswered.
هذه القصة مأخوذة من طبعة February 16, 2023 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة February 16, 2023 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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