NEW DELHI : Canadian pension fund Ontario Municipal Employees’ Retirement System (OMERS), private equity fund Actis Llp and Brookfield Asset Management Inc. have submitted bids to buy SoftBank Group Corp.’s stake in SB Energy Holding, two people aware of the development said.
SB Energy, a joint venture between SoftBank and Bharti Enterprises, has a 7.7 gigawatts (GW) solar power portfolio in India. SoftBank owns 80% in the JV, with Bharti holding the rest.
Canada Pension Plan Investment Board (CPPIB), which had earlier shown interest in the solar portfolio, is also expected to submit its bid. Bank of America (BofA) and Barclays are managing the stake sale process, one of the largest in India’s clean energy space.
