Mahindra Susten to Sell its Solar Assets Worth 160 MW

Mahindra Susten, the renewable energy arm of the Mahindra group, has announced that it has commenced the formal process to retail a portion of its solar assets worth a collective 160 MW.

The company’s renewable offerings include diversified services within the renewable energy and cleantech space, such as turnkey solar engineering, procurement, and construction (EPC) services, both utility-scale solar and rooftop solar products, solar car charging stations, telecom tower solarisation, operations and maintenance.

According to experts aware of the developments the company has begun reaching out to investors, both strategic and financial, to sell a part of their portfolio of solar assets. It is expected that the sale could fetch an enterprise valuation close to Rs 2,000 crore. The company which currently is following a build and sell model will look to invest the money raised from the sale of the assets to further develop its clean energy platform and pipeline.

There are increasing instances of mergers and acquisitions (M&As) in the Indian renewable energy space because of falling tariffs and the capital intensive nature of the business, particularly in the initial stage, making availability of low-cost funds critical for the success of a project.

Solar PV | News published on 22/04/2019 by Moulin

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