US-based Global Infrastructure Partners (GIP) is planning to sell its Indian renewable energy platform Vector Green Energy, two people aware of the development said, after the coronavirus outbreak upset its plans to sell its local roads portfolio.
GIP, which raised the world’s biggest infrastructure fund at $22 billion in December, acquired the platform from IDFC Alternatives in 2018 as part of its India entry. The platform owns around 750 MW of renewable assets.
The portfolio could fetch a valuation of $500-600 million, said the first of the two people cited above, both of whom spoke on condition of anonymity. “GIP has initiated talks to appoint investment banks to sell off the entire portfolio of around 750 MW owned by the Vector Green platform. They are having talks with several banks and are expected to soon appoint a banker to start the sale process,” this person said.
