April 22 (Renewables Now) - Brookfield Asset Management Inc (TSE:BAM.A) is negotiating the purchase of a majority stake in Indian renewable power producer Mytrah Energy, newspaper Mint reports, citing three informed sources.
The Canadian asset manager is currently conducting due diligence on Mytrah’s renewable energy assets, according to one of the insiders.
The person has added that the portfolio amounts to 1.6 GW and that based on its size a deal could be worth between USD 1 billion (EUR 889m) and USD 1.5 billion.
Mint’s second source has noted that contemplating the potential sale of a controlling stake in Mytrah reflects the need to pay back a large loan from the Piramal Group.
(USD 1.0 = EUR 0.889)