Blackstone Joins Competitive Bid to Acquire Statkraft’s 2 GW Renewable Portfolio in India – EQ
In Short : Blackstone has submitted a $1.5 billion non-binding offer to acquire Statkraft’s India renewable energy portfolio, marking its potential entry into the sector. The 2 GW portfolio includes wind, solar, and hydro assets. Competing bidders include KKR-backed Serentica, Sembcorp, and BlackRock. Statkraft aims to exit India to refocus on core markets like Europe and South America.
In Detail : Blackstone has entered the race to acquire Statkraft’s renewable energy portfolio in India, submitting a non-binding offer valued at \$1.5 billion. This would mark Blackstone’s first significant investment in India’s renewable energy sector, highlighting the growing interest of global investors in the country’s clean energy market.
Statkraft’s Indian assets comprise approximately 2 gigawatts of wind, solar, and hydropower projects. These projects are part of Statkraft’s broader strategy to divest from non-core markets and focus on its primary regions, including the Nordics, Europe, and South America. The sale reflects Statkraft’s effort to streamline its portfolio.
Other major players are also competing for Statkraft’s Indian portfolio. Among them are KKR-backed Serentica Renewables, Sembcorp, and BlackRock, all of which have substantial renewable energy investments in India. The competition underscores the attractiveness of India’s renewable sector to global investors.
The acquisition process is ongoing, with Statkraft expected to provide due diligence reports to interested bidders soon. These reports will help buyers assess the value and risks associated with the assets before submitting final bids.
India’s renewable energy market continues to expand rapidly, driven by ambitious government targets and increasing private investment. Statkraft’s exit presents an opportunity for new and existing investors to strengthen their positions in this high-growth market.
If Blackstone’s bid succeeds, it will mark a significant entry for the firm into India’s renewables space. This move aligns with broader trends of international capital flowing into India’s clean energy sector, supporting the country’s transition to a sustainable energy future.
