Statkraft plans $2 billion asset sale in India

Norway's Statkraft has engaged EY to assist in selling its Indian hydro and solar power assets, valued at $2 billion. This move is part of Statkraft's strategy to focus investments in fewer countries, specifically Norway, Europe, and South America. The sale includes 1 gigawatt of power projects located in Tamil Nadu, Rajasthan, Himachal Pradesh, and Uttarakhand. A formal sale process is expected to begin in 2-3 weeks, attracting interest from global renewable energy companies and investment funds. Statkraft aims to strengthen its competitiveness and value creation by divesting its Indian portfolio, which it has built over two decades. The company previously attempted significant acquisitions in India but faced challenges in those efforts.