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Thailand s GPSC buys 42% in Avaada Energy for Rs 33 88 billion
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Thailand s GPSC buys 42% in Avaada Energy for Rs 33 88 billion
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
India: PTT Group and ReNew Power deal said to be called off
Founded in 2011 by Sumant Sinha, ReNew Power has now over 1,000 MW of operational capacity from its own wind and solar projects. Photo: Pradeep Gaur/Mint
March 2, 2021
The proposed deal for Thailand’s energy major PTT Group buying a stake in ReNew Power Ventures Pvt. Ltd has been called off, said two people aware of the development.
This comes against the backdrop of ReNew Power announcing a merger with Nasdaq-listed special purpose acquisition company (SPAC) RMG Acquisition Corp. II on Wednesday at an enterprise value of about $8 billion. SPACs are publicly-traded shell companies with no commercial operations, which help unlisted companies go public through mergers, skipping the time-consuming conventional IPO route.
PTT Group in fray for Avaada Energy stake
The potential deal in renewable energy firm Avaada is estimated at $220 million.
(Photo: AFP)Premium
Avaada Energy has an operational portfolio of 1.2GW with 4GW under implementation
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NEW DELHI :
Thailand’s PTT Group is among companies that have shown interest in buying around 22% stake in renewable energy producer Avaada Energy Pvt. Ltd in a potential equity deal estimated at around $220 million, said two people aware of the development.
Avaada Energy controlled by entrepreneur Vineet Mittal has an operational portfolio of 1.2GW with a further 4GW under implementation.
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