Australia’s Macquarie Asset Management has cancelled its plans to divest the renewable energy platform Vibrant Energy due to a discrepancy in valuation during negotiations, as reported by the Economic Times.
Previously engaged in discussions with various entities, including Bain Capital, Sun Energy, and Vitol, Vibrant Energy sought an enterprise value of $500 million. According to the ET report, JP Morgan guided the sale process.
Vibrant Energy, a constituent of Macquarie’s Green Investment portfolio, currently operates and supplies 1.9 GW of renewable energy solutions to corporate clients in India, with an additional 3 GW in its active pipeline.
