GIP into Aditya Birla Renewables
BlackRock's Global Infrastructure Partners is investing US$225m in renewables developer Aditya Birla Renewables with an option to add another US$100m. The deal gives the developer an enterprise value of US$1.5bn.
Aditya Birla Renewables said the deal is one of the largest primary commitments for a minority stake in a renewables platform in India. The company has a pan-India renewable energy portfolio of 4.3GW across 10 states comprising solar, hybrid, floating solar and round-the-clock renewable power. It is the renewable energy holding company of Aditya Birla Group and a subsidiary of Grasim Industries.
