Blackstone Inc., which manages a $50 billion investment portfolio in India, has submitted a non-binding offer of $1.5 billion for Statkraft SF’s local arm, Statkraft India Private Limited. This entity houses a 2 gigawatt renewable energy generation portfolio.
This marks Blackstone's first reported evaluation of a renewable energy acquisition in India, aligning with its recently closed global energy transition fund of $5.6 billion. The offer has been approved by Norway-headquartered Statkraft’s global board.
Blackstone's bid competes with offers from other major players in the Indian renewable energy sector, including KKR-backed Serentica Renewables, Sembcorp, and BlackRock. This potential acquisition underscores Blackstone's strategic expansion into high-growth renewable energy markets.
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