India's smaller renewable firms fight takeover prospects to remain independent

India's smaller renewable firms fight takeover prospects to remain independent

Photo: Rawpixel/unsplash

Small to mid-sized renewable energy companies in India are starting to look like attractive takeover targets as lenders and investors withhold funds, worried by the stiff competition, weak bond markets, low tariffs and high debt besetting the sector.

The small companies’ difficulty in raising cash is keeping them away from government power project auctions, restricting their growth and crippling their ability to refinance loans, said a consultant from a top global consultancy firm.

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