Race for Renewables: Global Giants Eye Statkraft’s $1.5B India Portfolio

JSW Neo Energy, Blackstone, Serentica Submit Final Bids for Statkraft India Exit.

JSW Neo Energy, Blackstone, and KKR-backed Serentica Renewables have submitted binding financial bids for Statkraft’s wind and solar energy assets in India, marking a major step in the Norwegian energy giant’s phased exit from the country. The bids follow a three-month due diligence process. Statkraft, Europe's largest renewable power company, is selling its India portfolio in two lots: wind and solar assets in the first, and hydropower assets—due for bidding on August 16—in the second. The entire portfolio has an estimated enterprise value of $1.5 billion. Adani Green Energy and Torrent Power are expected contenders for the hydro assets. Statkraft's Indian assets include 1.5 GW of wind and solar in Rajasthan and hydro projects in Himachal Pradesh and Uttarakhand. The exit reflects Statkraft’s renewed focus on Europe and South America. Serentica confirmed its bid, expressing confidence in closing the deal, while others declined to comment publicly.