Continuum revives talks to offload partial stake

Nearly six months after US-based SunEdison called off a deal to buy out Continuum Wind Energy, the Singapore-based wind power firm has revived plans to sell a partial stake in the company, reports CNBC-TV18’s Navin Shetty. Currently, the valuation of Continuum is pegged at about Rs 4,000 crore and if talks with two players go through, it may be one of the largest deals in the renewable energy space. It is learnt that sovereign wealth fund Khazanah and APG Asset Management have expressed interest and are in discussions with Continuum to buy the stake on offer. Industry experts expect the value of the deal at Rs 1,000 crore and hope the deal to be completed within 4-6 months. Continuum has a working capacity of 412MW and has a 1000-MW capacity under construction. In November 2015, SunEdison had backed out from acquiring Continuum citing bankruptcy issues.

Source: CNBC-TV18