Eversource Capital and JSW Neo Energy are the two bidders shortlisted to acquire a controlling stake in Morgan Stanley-backed Continuum Green Energy, the enterprise value of which is pegged at $1.5 billion, according to people in the know.
The two bidders were among five that submitted non-binding indicative offers in early April. They will now conduct due diligence on the company before they submit firm financial offers, according to sources.
