KKR-backed Serentica to buy Statkraft’s solar power business for Rs 1,942-2,207 cr
New Delhi: KKR-backed Serentica Renewables has outbid Blackstone to acquire Statkraft’s solar power generation business in India for an enterprise value of $220-250 million (₹1,942-2,207 crore), sealing a transaction that has been in the works since March, said people in the know.
Both parties signed the agreement earlier on Sunday, the people said. A formal announcement is likely within days.
Statkraft’s solar business in India comprises 1.5 gigawatts of operational and under construction projects in Rajasthan that are being sold as a package. It also has hydropower assets that are on sale.
