Petronas, Sembcorp Industries, and JSW Neo Energy are separately considering acquiring Continuum Green Energy (India) Pvt. Ltd in a potential deal that may have an enterprise value of $1.5 billion, two people aware of the development said.
The companies may submit nonbinding bids next month for the deal, which is expected to have an equity value of around $600 million, the people said, requesting anonymity. As reported by Mint in November, others in the fray are oil company BP Plc, Norway's state-run electricity firm Statkraft, and New York-based I Squared Capital. The sale process, managed by Citibank and Deutsche Bank, may involve a 100% stake sale, including the sale of US investment bank Morgan Stanley's 83% stake in the clean energy platform founded by Arvind Bansal and Vikash Saraf in 2009.
The interest in Continuum comes amid India drawing up a plan to meet its commitment to net-zero carbon emissions by 2070, increasing nonfossil energy capacity to 500 gigawatts (GW) by 2030 and reducing the carbon intensity of its economy by 45% from the 2005 level.
Esta historia es de la edición December 29, 2022 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 29, 2022 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Hypersonic weapons in the age of A!: Be careful
Indias hypersonic missile marks a leap and updates its nuclear deterrence. But dangers lurk in the global race for these speedy and sneaky weapons, wit/z AI -use posing new risks
How to make Elon Musk's budget-slashing dreams come true
Any serious fiscal policies must go through Congress. That may end up being the key test of DOGE and Trump
BOREDOM: THE INVISIBLE CAUSE OF RISING ATTRITION
They deliver on the job, but many employees are just going through the motions with one eye on the exits
Viksit Bharat needs big plans and coordinated action
Let's transform manufacturing and agriculture, decarbonize the economy and unleash growth led by women
Indonesia will need to tread a fine line after T rump's return
Jez/farms relations with China mustn,t send out the wrong signals
What if Donald Trump keeps his promises on economic policy?
The 2024 US election is one of those rare instances where there is palpable fem that the winner will actually follow through
The Indian state is still to fully unshackle our economy
Economic success needs the state to function as an enlightened referee and be less statist
Let's tackle the harsh realities of mental health at the workplace
Ensure an inclusive work environment with policies of reasonable accommodation and support
How working abroad gives young Indians a wealth edge back home
Working overseas gives them the advantage to earn in stronger currencies and benefit from exchange rates
FALLING MARKETS ARE JUST WHAT YOU NEED: HERE'S WHY
For some of you, a market downturn may be an ideal time for a complete financial reset
