The Economic Times 3 September 2012
BANGALORE: Baring Private Equity Partners and Aditya Birla Private Equity are in the running to buy a 20 per cent stake in Anu Solar Power in a transaction which could value the Bangalore-based company at Rs 500 crore. The deal to invest Rs 100 crore is expected to close by the end of September, a person with direct knowledge of the negotiations said. Anu Solar Power, which makes solar inverters, water heaters and provides off-grid power solutions, reported revenue of Rs 60 crore in the financial year 2011-12. Advisory firm Ernst & Young is the lead arranger.
Baring Private Equity Partners refused to confirm any development around the potential investment while Aditya Birla Private Equity did not reply to an email sent by ET.
The deal, if consummated, will underscore the rising interest by private equity players in India’s renewable energy space, which is receiving policy support in the form of tax incentives, accelerated depreciation and capital subsidies.
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