JSW Aims To Raise $500 Million in Renewable Energy Business via Stake Sale in India
By Saikat Das, Indulal PM
JSW Energy NSE 0.46 % plans to raise about $500 million through a strategic stake sale in its green energy business as the Sajjan Jindal Group company aims to to catch up with peers such as Tata Power NSE -2.03 % and Adani Power that have stepped up investments into non-conventional energy. The proceeds would be used to ramp up generation of non-conventional power.
Feelers have gone to alternative energy-focused financial investors, pension and sovereign asset managers and big ticket private equity firms, multiple sources with knowledge of the matter told ET. “We have launched a formal process. With the current traction toward green energy assets, we hope to get better traction for the subsidiary,” said one of the sources cited above.