India's Hero Future leads race for Orange Renewable - report

Wind turbines in India. Featured Image: OlegD/Shutterstock.com

January 3 (Renewables Now) - Indian renewable power producer Hero Future Energies Pvt Ltd is seen as the front-runner in the race to acquire Orange Renewable and its 758-MW portfolio from Singapore-based AT Capital Group, Mint reports.

Munjal family-promoted Hero Future Energies is holding advanced talks about the potential transaction, one informed source told the newspaper, adding that Hyderabad-based Greenko Group is no longer in the race to buy Orange.

New Delhi-based Orange Renewable owns 567 MW of wind farms and 191 MW of solar power plants. Rothschild has been tasked to find a buyer for the company, according to the report.

The Economic Times reported in July that ReNew Power Ventures Pvt Ltd was looking to acquire Orange’s renewables portfolio at an enterprise value of INR 61.75 billion (USD 972.5m/EUR 807.5m).

(INR 10 = USD 0.157/EUR 0.131)

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