POWER

ReNew Power, Greenko among others keen to buy out Chandigarh discom

Two of India’s largest green energy firms—ReNew Power Ventures Pvt Ltd and Greenko Energy Holdings—are among the ten companies that have evinced interest in buying out the Chandigarh’ electricity distribution company (discom), said two people aware of the development.

These firms’ interest in the discom business comes in the backdrop of their strategy to capture value across the electricity business chain. A case in point being sovereign funds GIC Holdings and ADIA-backed Greenko submitting non-binding offer to buy Reliance Infrastructure’ Delhi electricity distribution businesses earlier.

The others who have bought the request for proposals (RFP) document made available from 10 November for the Chandigarh discom are; Tata Power, CESC Ltd, Torrent Power, Adani Group, NTPC Ltd, GMR Group, India Power Corporation Ltd and Sterlite Power. These firms have been attracted by the robust per capita power consumption of the UT discoms.

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