Norway’s Statoil ASA, France’s Total SA and Royal Dutch Shell Plc have also shown interest in investing in Amplus that has set up 350 megawatts of capacity across India.
Leap Green’s effort to raise funds comes at a time when the Indian renewable energy space is witnessing growing consolidation,
PTC India Ltd’s wind power business may be valued at around ₹2,000 crore.
The firms will make presentations before the Department of Investment and Public Asset Management for the role of M&A adviser.
India has emerged as one of the most favourable destinations for renewable energy with investments of about $42 billion. Over the next four years, the green energy sector has a business potential of $70-80 billion.
The process to sell one of India’s largest wind energy platforms was initiated after a plan to merge Orient Green Power Co. Ltd’s (OGPL) wind power business with IL&FS Wind Energy fell through.
Greenko group is also reportedly looking to buy Orange Renewable from Singapore’s AT Capital Group.
With the transaction, Greenko’s total renewable energy operational capacity will increase by around 1GW to 4.2GW, the second largest in India after ReNew Power Ventures Pvt. Ltd.
The cost of solar power generation was much cheaper in India compared to the rest of the world, Son added.
Goldman Sachs is said to be interested in divesting some stake in ReNew Power.