SoftBank-Bharti JV eyes up to $750 million fund-raise
SoftBank-backed renewable energy firm SBG Cleantech is set to reach out to financial and strategic investors to raise capital to fund its ongoing and pipeline projects in India and the US.
SB Energy, the renewable energy arm of SoftBank, has mandated Bank of America Merrill Lynch and Barclays to help raise $500-$750 million in SBG Cleantech, it’s 80:20 joint venture with Bharti, multiple people aware of the development said.
Formal outreach to potential investors – global utilities, infrastructure-focused PE funds, pension and sovereign wealth funds (SWFs) – will start in the coming weeks, they said.
