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Stonepeak fourth shortlisted bidder to buy O2 Power in $1 billion deal

Livemint

Livemint · 10m ago

Stonepeak fourth shortlisted bidder to buy O2 Power in $1 billion deal

New York-based Stonepeak is the fourth bidder to submit a binding offer to acquire Indian renewable energy platform O2 Power. The equity value of the potential deal is approximately $1bn, with an enterprise value of around $2.3bn. The other shortlisted bidders are I Squared Capital, JSW Neo Energy and Macquarie Group. EQT and Temasek hold 51% and 49% stakes in O2 Power, respectively. Thirteen prospective buyers have signed non-disclosure agreements for the sale. The deadline for submitting binding offers is 19 October.

Related News

I Squared, JSW Neo and Macquarie shortlisted to buy O2 Power in $1-billion deal

Livemint

Livemint · 11m ago

I Squared, JSW Neo and Macquarie shortlisted to buy O2 Power in $1-billion deal

Private equity firm I Squared Capital, JSW Neo Energy (a subsidiary of JSW Group), and Macquarie Group have been shortlisted to submit bids for the acquisition of renewable energy platform O2 Power. The deal, which could value O2 Power at $1 billion in equity and $2.3 billion in enterprise, is one of the largest green energy transactions in India. Stonepeak is also in talks to participate in the bidding process. The selected bidders will have full access to the data room before submitting their final offers by October 19th.

Stonepeak, I Squared, Actis, 4 others submit bids for O2 Power in $1 bn deal

Livemint

Livemint · 11m ago

Stonepeak, I Squared, Actis, 4 others submit bids for O2 Power in $1 bn deal

The sale of O2 Power, a leading renewable energy platform in India, has received non-binding offers from seven prominent entities, including Stonepeak, I Squared Capital, JSW Neo Energy, Sekura Energy, Actis Llp, Sembcorp Industries Ltd, and Macquarie Group. The bidders are among the 13 prospective buyers that signed non-disclosure agreements for the transaction. The deal, valued at around $1 billion for equity and $2.3 billion for enterprise, is being managed by Barclays. The selected bidders will submit binding offers by October 19, and the deal could be completed by January 2023. India aims to achieve 500 GW of renewable energy capacity by 2030.

Edelweiss front runner to buy O2 Power’s 350 MW solar projects

Livemint

Livemint · 1y ago

Edelweiss front runner to buy O2 Power’s 350 MW solar projects

Sekura Energy, a platform of Edelweiss Infrastructure Yield Plus Fund, is in the lead to acquire 350 MW of solar projects from O2 Power. The deal is expected to have an equity value of $50 million and an enterprise value of $200 million. O2 Power is a renewable energy platform backed by Temasek and EQT. Edelweiss Infrastructure Yield Plus is also interested in acquiring 400 MW solar power projects from Macquarie Group's Stride platform. This sale comes amidst EQT and Temasek's plans to sell O2 Power for an estimated equity value of $1 billion.

Grapevine: Three firms make cut for O2 Power; co-working platforms eye IPOs

VCCircle

VCCircle · 11m ago

Grapevine: Three firms make cut for O2 Power; co-working platforms eye IPOs

Three firms, I Squared Capital, JSW Neo Energy, and Macquarie Group, have made the shortlist to submit binding bids for the acquisition of renewable energy platform O2 Power. The deal, which could value the equity at $1 billion and enterprise at $2.3 billion, is expected to attract significant interest. In other news, co-working platforms are eyeing initial public offerings (IPOs) as demand for flexible working spaces continues to grow.

EQT-Temasek’s green energy platform O2 inks deal for solar assets in India

VCCircle

VCCircle · 10m ago

EQT-Temasek’s green energy platform O2 inks deal for solar assets in India

O2 Power, a renewable energy platform created by EQT and Temasek, has signed a deal to acquire the solar power assets of a green energy firm in India. O2 Power, which is undergoing a change in ownership, aims to expand its presence in the Indian market and contribute to increasing renewable energy capacity in the country.

EQT, Temasek to sell Indian green energy platform O2 Power in $1.5-bn deal

VCCircle

VCCircle · 7m ago

EQT, Temasek to sell Indian green energy platform O2 Power in $1.5-bn deal

EQT and Temasek have agreed to sell their Indian green energy platform, O2 Power, to JSW Neo Energy for $1.5 billion. O2 Power has an operational and under-construction portfolio of 4.7 GW and the acquisition will help JSW Neo reach its goal of 20 GW by 2030. O2 Power specializes in utility-scale renewable energy projects and has seen a significant increase in revenue over the past year. EQT and Temasek had set up O2 Power in late 2019.

JSW Neo Energy to acquire O2 Power at enterprise value of $1.47 billion | Company Business News

Livemint

Livemint · 7m ago

JSW Neo Energy to acquire O2 Power at enterprise value of $1.47 billion | Company Business News

JSW Neo Energy, a subsidiary of JSW Energy, is acquiring O2 Power for $1.47 billion, increasing its planned generation capacity by 23%. EQT and Temasek, owning 51% and 49% of O2 Power respectively, will exit after the acquisition. O2 Power, with a 4.7 GW renewable energy capacity, will see significant capacity operational by 2025 and 2027. This is JSW Energy's largest acquisition, strengthening its renewable energy position in India.

Enel India deal on the final stretch

Livemint

Livemint · 7m ago

Enel India deal on the final stretch

JSW Group, Stonepeak Infrastructure Partners, and Waaree Energies have submitted binding bids for Enel Group's renewable energy business in India. The deal is expected to value the portfolio of wind and solar power assets at around $350-400 million, with total debt raising the enterprise value to over $500-550 million. Enel Green Power India has 760 MW of operational wind and solar power assets, with another 2 GW in development pipeline, making it an attractive opportunity for investors. The deal is anticipated to be finalized by the end of the financial year in March 2025.

Stonepeak raises $3.3 bn for its first Asia-dedicated infrastructure fund

VCCircle

VCCircle · 1y ago

Stonepeak raises $3.3 bn for its first Asia-dedicated infrastructure fund

New York-based alternative investment firm, Stonepeak, has raised $3.3 billion for its Stonepeak Asia Infrastructure Fund, exceeding its $3 billion target. The fund aims to invest in a diversified portfolio of infrastructure assets across the Asia-Pacific region, with a focus on communications, energy, transport, and logistics. Stonepeak has already made six investments in these sectors. The successful fundraising highlights the long-term economic potential and demand for infrastructure investment in Asia.

How EQT-Temasek's green energy platform O2 Power is gunning for growth

VCCircle

VCCircle · 1y ago

How EQT-Temasek's green energy platform O2 Power is gunning for growth

Swedish private equity firm EQT Partners and Singapore state investment firm Temasek have created O2 Power, an Indian renewable energy platform aiming to achieve 4GW of installed capacity in the solar and wind sectors. Despite the challenges posed by the nationwide lockdown, O2 Power has received strong backing and is poised for growth in the green energy market.

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