He said that two potential buyers are currently conducting proper hard work, whose assets are expected to be Rs 4,000 crore.
Sources said that some other firms, including JSW Power, NTPC and a couple of the global infrastructure fund, had initially discovered the deal, but did not move forward.
HSBC and Axis Capital are advising Apraava on sales process.
Mail sent to Jindal Power and Save. An apraava energy spokesperson refused to comment.
Apraava Energy is jointly owned by Hong Kong -based CLP (east China Light and Power) and Canadian Pension Fund Caisse De Depot at Placement du Cubeb (CDPQ). Its total portfolio of 3,000 MW is a combination of fossil fuel and renewable power. The 1,320 MW power project located in Jhajjar district has started commercially since 2012. The plant remains 90% of its production to Haryana and for Tata Power Trading Company. The flav gas in the Jejjar Power National Capital Region (NCR) already has the first plant in the FGD, which is in Holidayavidding (FGD). According to the company's website.
Before the environmental criteria came into force in 2015, Apraava Energy began the installation of FGD during the construction of the plant in 2012.
Sev.en Global Investments are an investment group owned by a tycack family that is present in four continents, which focuses on investment in thermal power plants globally. Sev.en group operates lignite power plants, thermal plants and lignite mines worldwide.
It has a 5.8 GW total installed generation capacity and 10 million tonnes of coal mining per year.
Pavel Tykac, the founder of Sev.en, is a major check entrepreneur and investor in energy and mining sectors.
In 2023, Sev.Ne Global Investments made a strong presence in Vietnam by obtaining a 51% equity stake in a power plant that run in Mong Duong 2 coal from American Energy Company AES Corporation. It won an additional 19% stake from the China Investment Corporation last year – its total stake in Mong Duong 2 Power Plant increased to around 70%.
The Naveen Jindal Group, Tamanar, Chhattisgarh through Jindal Power operates 4,300 MW thermal power capacity with thermal power stations; Shirpur, Maharashtra; And Simhapuri, Andhra Pradesh. Jindal Group is targeting 12 GW renewable power capacity by 2030 with storage facilities and large-scale green hydrogen production.
In 2018, CDPQ acquired 40% in CLP India at $ 365 million, and increased its stake in 2022 and increased its stake by 50%. In January, Apraava Energy commissioned its largest wind power project with a capacity of 250.7 MW at Devbhoomi Gate, Sidpur in Gujarat. Apraava operates two other wind projects in Gujarat – 50.4 MW project in Mahidad and 100.8 MW in Samana. The company will start construction on three solar power projects with a joint capacity of 600 MW in Rajasthan.
CDPQ, which has been investing in renewable energy and road sectors in India, has been deployed around $ 7.5 billion since 2016.
In India, CDPQ owns the Maple highways – its platform for the Rhodes sector in India and sponsors of the Invit -Maple Infrastructure Trust. The CDPQ also has Azure Power, a major independent solar power manufacturer.
