RENEWABLE ENERGY

Adani, KKR, Edelweiss keen on Mahindra Susten’s solar assets

The Adani Group, private equity firm KKR and Edelweiss Infrastructure Yield Plus Fund have separately evinced interest in acquiring 810 megawatt (MW) solar projects of Mahindra Susten, the renewable business arm of Mahindra group, said two people aware of the development.

The deal, potentially valued at about $530 million, is set to rank among the largest in India’s green energy space. It comes after CLP India emerged as the final buyer of Mahindra Susten’s 160 MW solar assets that were put on the block earlier.

“Mahindra Susten has put the projects up for sale. There is interest from the likes of Adani, KKR and Edelweiss,” said the first of the two people cited above requesting anonymity.

This interest comes against the backdrop of India unveiling its next generation power sector reforms that include privatization of electricity distribution companies (discoms) in all eight union territories and a new tariff policy which proposes a cost-reflective tariff, penalty on unjustified power cuts and limiting cross-subsidies.

Source
Livemint
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