Brookfield has entered into exclusive talks for the acquisition and will pay about Rs Rs 4,200-Rs 4,500 crore – about Rs 3.5 crore/MW, said a source. Actis is said to be another contender for Mahindra Susten’s assets. EY is running the sale mandate.
Earlier, Rothschild ran the mandate to sell 617 MW of Mahindra Susten’s assets and National Investment and Infrastructure Fund became the frontrunner with the highest bid, ET reported in December.
Later, the Mahindra Group decided to exit the renewable business and mandated EY to find a buyer for 1.2 GW of assets.
In the latest sale, Mahindra Susten will offload assets spread across Madhya Pradesh, Telangana and Gujarat. The major operational assets of Mahindra Susten include the 337.50 MW park at Rewa in MP, the 84.50 MW plant at Charanka in Gujarat and the 59.8MW plant at Adilabad in Telangana. In February last year, Mahindra announced the sale of three solar projects to CLP India for Rs 340 crore.
A Brookfield spokesperson declined to comment, while a mail sent to Mahindra Susten did not elicit any response till press time.
