Macquarie Group, the Australian-based investment bank, has put up its majority stake in an Indian clean energy company for sale. The company, which is based in the southern state of Tamil Nadu, operates a portfolio of wind and solar power projects with a combined capacity of over 300 MW.
The decision to sell comes as part of Macquarie’s ongoing efforts to exit non-core businesses and focus on its core strengths in infrastructure and real estate investments. According to sources familiar with the matter, the sale process is expected to attract interest from both domestic and international investors.
The clean energy company has been a key player in India’s renewable energy sector since its inception in 2010. It has a strong track record of delivering high-quality renewable energy projects, and has established partnerships with leading Indian corporations and international investors.
The move comes amid a surge in renewable energy investments in India, as the country strives to achieve its target of 175 GW of renewable energy capacity by 2022. The Indian government has set ambitious targets to increase the share of renewable energy in the country’s power mix, in a bid to reduce its carbon emissions and improve energy security.
Macquarie’s decision to sell its stake in the clean energy company underscores the growing interest in India’s renewable energy sector, and is expected to generate significant interest from investors looking to capitalize on the country’s rapidly expanding clean energy market.