- Piramal and CPPIB are well aware of the assets of Mytrah Energy and discussions for its acquisition have been in the fray for some time now,
- Piramal Group had provided $277 million in loans to Mytrah Energy through non-convertible debentures to help provide exit options to existing investors.
In a bid to make a potential acquisition in the newly launched private firm InvIT, co-owned by the Piramal Group and the Canadian pension fund CPPIB, the Ajay Priamal-owned company is planning to buy the operational renewable power projects of Mytrah energy, reported The Economic Times.
Piramal and CPPIB are well aware of the assets of Mytrah Energy and discussions for its acquisition have been in the fray for some time now, the report said, quoting sources.
Piramal Group had provided $277 million in loans to Mytrah Energy through non-convertible debentures to help provide exit options to existing investors such as IDFC Alternatives, AION Capital, Merrill Lynch, and Goldman Sachs, the daily said, adding that the loan amount provided to the energy firm is due in the next five years.
Mytrah Energy has a 2,000-MW of operational and in-the-works renewable power with assets spread across 15 wind farms in Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Punjab, and Tamil Nadu, the report added.
Source: cnbctv18
