
Chinese GAW Capital Partners and Singapore’s CapitaLand Investment are considering investment in rooftop solar power producer CleanMax Enviro Energy Solutions in India.
It has been reported that the duo among others could have a majority stake in CleanMax. The enterprise value of investment is around $550 million.
According to a local report, the latest deal structure consists of a majority buyout and raising fresh capital. It added that the companies have already submitted non-binding offers for the deal.
Till date, the US company Augment Infrastructure is the major stakeholder in CleanMax.
According to CleanMax, the company consists of 1GW operational renewables portfolio, which includes 350 MW of operational solar rooftop capacity spread across India, Thailand and the UAE.
To be noted, there is a rising interest of investors in India’s green economy, particularly for renewable power.
So far, the South Asian country has the fourth largest installed renewable energy capacity of 166 GW.
By 2030, the country’s power requirement will be at 817GW out of which over half stake will be of renewable energy.
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