Aditya Birla Group taps Nebras Power to raise $400 million
Aditya Birla Group has entered into talks with Nebras Power, a wholly-owned subsidiary of Qatar Electricity & Water, to offload a minority stake in its renewable energy business.
The cement-to-retail conglomerate, which set up its renewable power unit in 2011, is looking for a strategic investor to scale up its renewable energy business.
According to sources close to the development, Nebras Power is likely to invest about $400 million in the Indian conglomerate’s renewable energy business, Aditya Birla Renewables.
