MUMBAI: Azure Power Global is in talks with Canadian asset manager Brookfield to raise as much as Rs 500 crore by selling a significant minority stake to fund the Delhi-based clean energy firm’s plans to expand its generation capacity, two people with direct knowledge of the development said.
The fundraise would be a prelude to its proposed New York or Indian public offer, which it had announced late last year.
“The talks are quite advanced and the intent is to raise fresh finances ahead of the listing. This will help the company to expand smoothly even if the New York or Indian listing process gets delayed by a few months,” said one of the two people quoted above.
Brookfield, which manages $250 billion globally, plans to invest over $2 billion in India over the next 2-3 years to buyout upscale offices and commercial towers, stranded roads, power and utility infrastructure as it aims to double its existing asset base in the country.
Brookfield has three power investments in India and is in talks to invest more in the core infrastructure sectors in the country.
Recent Articles on M&A
