Brookfield Eyes Stake In Indian Wind Energy IPP
Continuum Wind Energy, a leading wind energy IPP in India, is in the news once again. The company may finally sell assets to a foreign company.
According to media reports, Canada’s Brookfield Asset Management is looking to acquire operational assets of Continuum Wind Energy. The total size of the transaction is expected to be around Rs 1,700-2,000 crore (up to $296 million) for 400 MW of operational wind energy assets.
This will be the second attempt by a foreign company to acquire Continuum Wind Energy in as many years. Last year, SunEdison, before its bankruptcy, had announced plans to acquire operational as well as under-construction assets of the company.
Once called the ‘largest renewable energy transaction in India,’ the deal fell through following SunEdison’s own financial troubles.
The largest beneficiary of the Continuum sale would be Morgan Stanley Infrastructure Partners which holds a controlling stake in the company. Registered in Singapore, Continuum Wind Energy received funding worth $212 million from Morgan Stanley Infrastructure Partners in 2012.
Some of the recent and high-profile acquisitions in the Indian renewable energy market include the $1.4 billion takeover of Welspun Renewables Energy by Tata Power Renewable Energy, and the $392 million acquisition of SunEdison India assets by Greenko Energy Holdings.
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