Private Equity

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Renewable energy firm Atria Power looking to attract $300-M: report

Economic Times  

Bengaluru-based Atria Power is likely to raise about $250-300 million at a valuation of $800 million-$1 billion range. Avendus Capital has been hired to run the sale process and feelers were sent to global and domestic funds that are active in the renewable energy space. At present, the group has a diversified portfolio of 528 MW commissioned and operational assets. In this proposed deal, Piramal Finance, which had lent INR 600 crore in 2017, will sell its debt to the new investor. Also, the company's promoters plan to sell a significant minority stake in the company.

From the Venture Intelligence PE-VC Deal Database: In Jul-2014, Atria Power had attracted USD 15 M from GE Energy Financial Services. GE Energy Financial Services had bought stakes in three wind projects of Atria Power with a total capacity of 126 MW when ready.