Morgan Stanley and MUFG Launch $1 Billion Sale of Vena Energy India, Signaling Major Exit for GIP – EQ
In Short : Morgan Stanley and MUFG have launched the $1 billion sale of Vena Energy India, marking Global Infrastructure Partners’ exit from the country. Vena Energy operates 957 MW of renewable assets with 59 MW under construction, alongside a 1.25 GW solar and wind pipeline and 752 MWh of BESS. The long-term PPAs, averaging 17 years at ₹4.5/kWh, make it an attractive investment in India’s growing clean energy sector.
In Detail : Morgan Stanley and MUFG have initiated the $1 billion sale of Vena Energy India, signaling Global Infrastructure Partners’ full exit from its investment in the company. The transaction, codenamed “Project Indigo,” was launched earlier this month.
Vena Energy India operates 957 MW of renewable power assets, with an additional 59 MW currently under construction. Its portfolio also includes a 1.25 GW pipeline of solar and wind projects.
The company holds 752 MWh of battery energy storage systems (BESS), with another 100 MWh in development. Early- to mid-stage projects add 1.46 GW of capacity, strengthening its growth potential.
The weighted average residual power purchase agreement (PPA) across Vena Energy India’s projects is 17 years, with a tariff of ₹4.5 per kilowatt-hour. This provides stable, predictable revenue for investors.
The sale comes amid growing global interest in India’s renewable energy sector. Strong policy support and ambitious clean energy targets have made the market attractive to international investors.
Morgan Stanley and MUFG are managing the sale, seeking buyers who can capitalize on Vena Energy India’s established assets and robust project pipeline. The transaction supports market consolidation and sector growth.
Industry stakeholders and investors are closely watching the process, given the strategic importance of renewable energy in India’s energy transition and long-term sustainability goals.
The involvement of leading financial institutions highlights the significance of the deal. It is expected to attract both domestic and international investors looking to expand in India’s clean energy market.
Vena Energy India’s strong project portfolio and established market presence make it a valuable asset. The sale could pave the way for similar transactions, further accelerating the expansion of renewable energy in India.
