Fourth partner, Keppel, others eye majority stake in Cleantech
Indian solar energy platforms Fourth Partner Energy, O2 Power, Eversource Capital and Singaporean conglomerate Keppel Corp are in separate discussions to acquire a majority stake in Cleantech Solar Energy, backed by Royal Dutch Shell, said people aware of the development. The proposed transaction is expected to value Cleantech at $400 million (about Rs3,000 crore).
Promoter Raju Shukla, who owns a 51% stake in the holding company, will sell his stake, while Shell will retain its 49% stake, said one of the people. Standard Chartered Bank is advising the promoters to find a buyer.
