Overseas green capital chasing renewable energy firms across India

According to experts, India offers the right kind of risk-return profile which is why his company likes to invest here

Last week, Thailand-listed Global Power Synergy Public Company announced the acquisition of a 41.6 per cent stake in Delhi-based Avaada Energy through its subsidiary Global Renewable Synergy Company. Avaada has 1.4 Gw of operational solar generation capacity and about 2.4 Gw of under construction projects.

Analysts believe the approximately Rs 3,374-crore deal was done at 9x enterprise value (EV) to Ebitda (earnings before interest, tax, depreciation and amortisation) multiple.  

Avaada is owned by Vineet Mittal, who as part of the Welspun group was behind the setting up of 151-Mw Neemuch Solar Plant in Madhya Pradesh. 

In February, a Goldman Sachs-backed