This comes in the face of significant hurdles, including a scarcity of power-purchase agreements (PPAs), power supply agreements (PSAs), and issues related to transmission connectivity.
India currently has 150 Gw of installed RE capacity. The ongoing sale accounts for 13.3 per cent of the industry's total capacity.
According to a banker, Canadian fund Brookfield has found a Malaysian buyer for 1.6 Gw of its operating assets in India and is in the final stages of negotiations, with an enterprise valuation of $1 billion. Brookfield declined to comment.
ReNew is also looking to sell part of its solar manufacturing stake to a strategic investor and use the proceeds to reduce debt, said a banker. A ReNew spokesperson, in an emailed response, said: "ReNew doesn't comment on market speculation."
The JSW group, known for its aggressive acquisition strategy, is in the final stages of talks to acquire Ayana Renewable Power, which is backed by NIIF and British International Investment. Ayana manages a 5 Gw portfolio of operational and under-construction projects. An email sent to a JSW spokesperson went unanswered.
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