Enel picks HSBC to sell India green portfolio – EQ
In Short : Enel has chosen HSBC to facilitate the sale of its green portfolio in India. This strategic move underscores Enel’s commitment to renewable energy and highlights the growing interest in India’s green energy market. It’s a great step towards a more sustainable future.
In Detail : The portfolio of Enel Green Power India comprises 760MW of operational wind and solar power assets and a development pipeline of 2GW
NEW DELHI : Italy’s Enel Group is looking to sell its entire renewable energy business in India and has hired HSBC for the transaction, two people aware of the development said. The proposed deal may have an equity value of around $300 million, the people said.
The portfolio of Enel Green Power India comprises 760 megawatts (MW) of operational wind and solar power assets and a development pipeline of 2 gigawatts (GW). It also has power purchase agreements totalling 190MW. Of the operational capacity, solar power projects comprise 420MW, with the balance 340MW coming from wind power projects. The sale process is expected to be launched shortly. “The process is at a very early stage,” said one of the two people on the condition of anonymity.
In 2020, Enel Green Power India joined hands with Norfund, a Norwegian development finance institution, to jointly finance, build and operate new renewable projects in India. Enel Group was also interested in taking over the electricity distribution functions of Puducherry, and had submitted non-binding offer to buy Reliance Infrastructure Ltd’s Delhi electricity distribution businesses.
