The sale process of these solar assets is being managed by investment bank Avendus Capital.
Mahindra Susten, the renewable business arm of the Mahindra group, has launched a formal process to sell around 160 megawatts (MW) of solar assets, two people aware of the development said to Mint.
Mahindra Susten has recently started reaching out to investors, both strategic and financial, to sell a part of their portfolio of solar assets. The company is selling around 160MW in the current process, informed one of the spokespeople.
The sale could fetch an enterprise valuation of close to ₹2,000 crore, he said.
The concerned person further mentioned that their business model is to build and sell assets. They will use the capital from the sale to develop their pipeline. They have a pipeline of around 1 gigawatts (GW).
Increased mergers and acquisitions
The sale process of these solar assets is being managed by investment bank Avendus Capital, according to the second person cited above.
There are increasing instances of mergers and acquisitions 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.
