Actis, Brookfield among front runners for Fortum Oyj’s 500 MW Indian solar projects
NEW DELHI : Private equity firms Actis Llp and Brookfield Asset Management Inc. have emerged among the front runners for acquiring a majority stake in Finland’s state-controlled power utility Fortum Oyj’s 500 megawatt (MW) Indian solar projects, said two people aware of the development.
The stake sale deal by the third-largest Nordic utility, potentially valued at about Euro 500 million, is set to rank among the largest in India’s green energy space, with Kotak Investment Banking running the sale process.
Despite the coronavirus pandemic, deal activity continues unabated in India’ green energy space. Recently the single-largest foreign clean energy investment announcement in India was made by Japan’s ORIX Corp. for $980 million in Greenko for a 17% stake.
