Greenko Group and overseas vehicles utilities are in separate talks to acquire Equis Pte Ltd’s Indian hydroelectric assets.
The Singapore-based company’s Hydreq hydropower platform is valued at about Rs 2,700 crore. 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. Greenko Group last month purchased Orange Renewable from Singapore-based AT Capital Group for $1 billion.
Operational hydropower projects are in great demand today, given their ability to cater to peaking power.
Greenko is interested in Equis’s hydropower portfolio, given its ambitions around the space. Across India, the company has a net installed capacity of 3.2 GW across 13 states.
This is a Syndicate Feed