Brookfield Asset Management Inc. of Canada has signed an agreement to purchase the Mahindra Sustain EPC business, which includes 1,200 MW (MW) of solar assets with an enterprise value of about 5,000 crores.
Earlier, Mahindra Susten’s was divided into 2 different programs. One was the sale of a 600 MW solar project which is under construction and the other was its EPC business. The sale of the 600 MW solar project was taken care of by Rothschild while the EPC business sale was being handled by EY.
Now both have become one project as Brookfield Asset Management Inc. is going to buy both of them.
Although right now this deal is not open for public knowledge and that’s why officials from all 4 organizations are not commenting on it.
The portfolio of Mahindra Sustain comprises 1569 MW of solar power in India. Mahindra Sustain originally works in the field of building and selling solar projects. Recently they have sold 160 MW of solar project to CLP India.
The most amazing thing about this deal is it has come at a time when the electricity demand in India has gained a record peak of 189.6 GW and at the same time the solar tariff has gone down to INR 1.99 per unit.
This deal is going to help both Mahindra and India in attracting more investments in the Indian Solar Energy sector.
Resource Live Mint
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