19 Dec 2023 , 01:01 PM
Aditya Birla Group is is in advanced negotiations with Nebras Power for a strategic investment in its renewable energy business under Grasim. Nebras Power set to invest around $400 million in a proposed 51:49 joint venture with Aditya Birla Renewables, aiming to hit 4.5 GW installed capacity by FY 26.
Exclusivity pact signed between Nebras Power and Aditya Birla Renewables; due diligence underway.
Standard Chartered serves as the sell-side advisor on the deal, while Japanese and Canadian suitors had shown interest earlier, according to sources.
As a Cautionary note these discussions may or may not lead to a final transaction, and other potential investors have expressed interest. Nebras Power’s entry into the Indian renewable energy segment would mark its debut investment if the deal materializes.
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