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Gentari India Business Valued Up To $2.5 Billion Amidst M&A Buzz
15 Jan
Summary
- Global PE firms eye Gentari's India business with bids expected soon.
- Gentari seeks $2-2.5 billion valuation for its Indian operations.
- India's renewable energy sector faces challenges despite growth.
Several global private equity firms, including Macquarie and Actis, alongside strategic investors like Serentica Renewables, are reportedly evaluating bids for a 50% stake in Gentari's Indian operations. The first round of bidding is anticipated by the end of January 2026. Gentari, the clean energy arm of Malaysian energy major Petronas, operates in India's renewable energy, EV charging, and green hydrogen sectors.
Gentari is seeking an enterprise valuation between $2 billion and $2.5 billion for its Indian assets, though its equity value stands at $600-700 million due to substantial debt. The company's Indian renewable energy portfolio comprises approximately 7GW, positioning it as a mid-sized player in a market aiming for 500GW by 2030. This move aligns with a broader trend of global energy companies exiting or divesting from India.
Despite India's ambitious net-zero targets and substantial growth in renewable capacity, the sector grapples with challenges like stranded power purchase agreements and low exchange prices. This environment is fueling mergers, acquisitions, and consolidation, with many foreign-owned renewable assets in India also being put up for sale.
