JSW Energy Limited, Torrent Power Limited and Apraava Energy (formerly CLP India Private Limited) and Sembcorp Industries – have joined the race for acquiring 700 MW of wind and solar energy assets under Vector Green Energy Private Limited.
The assets will be valued at Rs 45-50 billion (USD700 million). Vector Green Energy is wholly owned by funds managed by Global Infrastructure Partners India, the Indian affiliate of Global Infrastructure Partners (GIP), a leading global independent infrastructure fund manager. Standard Chartered Bank is advising GIP to sell-off the assets. Vector Green portfolio includes 19 ground-mounted utility scale projects located across 8 states as well as 89 rooftop solar projects on 216 roofs across 7 state in India. An additional 90 MW of solar projects are under implementation in Gujarat. Vector Green had expanded its portfolio in 2019 by acquiring about 225 MW solar generation capacity from RattanIndia.