Private equity firms Actis Llp and Brookfield Asset Management Inc. have emerged among the front runners for acquiring a majority stake in Finland’s state-controlled power utility Fortum Oyj’s 500 megawatt (MW) Indian solar projects, said two people aware of the development.
The stake sale deal by the third-largest Nordic utility, potentially valued at about Euro 500 million, is set to rank among the largest in India’s green energy space, with Kotak Investment Banking running the sale process.
