Zelestra eyes $400-500 million sale of India business
Zelestra, backed by global investment firm EQT, is looking to sell its entire India renewable energy business for $400-500 million.
With JP Morgan running the show, big names like Brookfield and JSW Group are already in the loop as potential buyers.
The official bidding process is about to get started.
Zelestra's biggest project is a 500 MW hybrid setup
The company wants to use the sale money to pay down debt and focus on its core markets.
In India, Zelestra's biggest project is a 500 MW hybrid setup in Solapur—mixing solar, wind, and battery storage—which should be up and running by 2027.
India's aiming for 500 GW of renewable energy by 2030
India's aiming high: 500 GW of renewable energy by 2030 and net-zero emissions by 2070.
The sector's booming right now, with more private investors jumping in as green energy becomes a hot ticket—and even bigger projects are on the horizon.