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.
