Dealing a blow: Green policy flip-flops spook foreign investment firms

Centre calls a meeting between states, PEs, funds

Foreign investors are nervous, so much so that at least two deals on merger and acquisition worth a combined $1,500 million in renewable energy are at stake.

The reasons: Policy volatility, Centre-state differences, lack of power contracts, and the incapability of states to pay for renewable power.

Concerned, the Ministry of New & Renewable Energy has called a consultative meeting between state governments and key investors including sovereign funds like the Abu Dhabi Investment Authority and Singapore’s GIC. The meeting, said sources, is likely on February 25 and 26.

Sources said discussions with Thai energy conglomerate PTT Group, which was in talks to