The Singapore-based company’s Hydreq hydropower platform is valued at about Rs 2,700 crore.
Greenko Group and overseas vehicles utilities are in separate talks to acquire Equis Pte Ltd’s Indian hydroelectric assets, according to a Mint report.
The Singapore-based company’s Hydreq hydropower platform is valued at about Rs 2,700 crore.
“Greenko is interested in Equis’s hydropower portfolio, given its ambitions around the space,” a source told the paper.
Hydreq owns and operated two hydroelectric plants in Sikkim with a capacity of 200 MW.
The sale process is being managed by EY, the report said.
Hyderabad-based Greenko Group has a hydropower operating capacity of 490 MW and 1 GB (1,000 MW) in the pipeline, according to the company’s website.
The renewable energy company is backed by GIC Holdings Pte Ltd and Abu Dhabi Investment Authority.
“Operational hydropower projects are in great demand today, given their ability to cater to peaking power. The project is also seeing interest from global utilities, large funds, and Greenko,” a source told Mint.
Moneycontrol could not independently verify the news.
Greenko Group last month purchased Orange Renewable from Singapore-based AT Capital Group for $1 billion.
Across India, the company has a net installed capacity of 3.2 GW across 13 states, according to the company website.
Source: moneycontrol
