JSW Energy NSE 2.00 % plans to raise about $500 million through a strategic stake sale in its green energy business as the Sajjan Jindal Group company aims to to catch up with peers such as Tata Power NSE -1.24 % and Adani Power that have stepped up investments into non-conventional energy.
The proceeds would be used to ramp up generation of non-conventional power. Feelers have gone to alternative energy focused financial investors, pension and sovereign asset managers and big ticket private equity firms, multiple sources with knowledge of the matter told ET. “We have launched a formal process. With the current traction toward green energy assets, we hope to get better traction for the subsidiary,” said one of the sources cited above.
