M&A

M&A

Macquarie, RP Sanjiv Goenka in final race to acquire Welspun New Energy

Economic Times   Welspun New Energy Ltd  

Macquarie and the RP Sanjiv Goenka (RPSG) Group have emerged as the final contenders to acquire the Mumbai-headquartered renewable energy arm of the Welspun Group, Welspun New Energy Ltd (WNEL). The transaction is expected to value the company at about INR 2,000 crore.Welspun New Energy has 45 MW of operational capacity. The company is currently developing a 245 MW wind-solar hybrid project in Gujarat and maintains a 700 MW wind-solar-plus-storage pipeline.The firm plans to use its future project pipeline, which includes sites already secured, to establish power purchase agreements with diverse counterparties, including the Solar Energy Corporation of India (SECI) and Gujarat Urja Vikas Nigam.