Australia’s Macquarie Asset Management has called off plans to sell renewable energy platform Vibrant Energy due to a valuation mismatch in negotiations, said people aware of the development.
Vibrant, a portfolio company of Macquarie’s Green Investment, is currently operating and delivering 1.9 GW of renewable energy solutions to corporate clients across India. It has an active pipeline of 3 GW. The company was in discussions with several players such as Bain Capital, Sun Energy and Vitol earlier and was looking for an enterprise value of $500 million. JP Morgan was advising Vibrant Energy in the sale process.
