Brookfield eyes majority stake in Mytrah Energy in deal valued at $1.5 bn
Canada’s Brookfield Asset Management, which owns renewable assets worth over $47 billion globally, is looking to acquire a majority stake in Mytrah Energy Ltd in a deal that could value it at $1.5 billion, the Mint newspaper reported, citing people familiar with the development.
Hyderabad- and London-based Mytrah has a portfolio of 1.6 gigawatt of renewable energy assets across India and is looking for an investor to repay a loan of Rs 1,800 crore that it had taken from Piramal Group in September 2017 to buy out its private equity investors, the report said.
If this deal goes through, it would be the biggest transaction in terms of renewable energy capacity. Other big deals in India include ReNew Power Ltd’s acquisition of 1.1 GW portfolio of Ostro Energy in 2018 for $1.54 billion and Tata Power Renewable Energy’s acquisition of 1.14 GW portfolio from Welspun Renewables in 2016 for $1.4 billion.
Brookfield has so far focused on infrastructure and real estate sectors in India, but also has a presence in the renewable energy sector thanks to its 2017 acquisition of US firm SunEdison Inc.
News Date: 22-Apr-2019
News Source: https://www.business-standard.com/article/companies/brookfield-eyes-majority-stake-in-mytrah-energy-in-deal-valued-at-1-5-bn-119042200463_1.html
‘All About Renewables’ aims to bring about a change in the way we ‘look and search’ for data on renewables today, by providing access to the latest developments in the renewable energy sector (specifically renewable electricity), along with cross-linkages to the conventional energy sector, all on one single platform... Read More
Plot No.44, Hindustan Estates,
Kalyani Nagar, Pune 411 006, India