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Global Investors Line Up for Stake in Welspun’s Clean Energy Arm at Higher $250 Million Valuation

Several global private equity firms and infrastructure investors are preparing to submit bids for a controlling stake in Welspun New Energy, the clean energy subsidiary of the Welspun Group, according to people familiar with the matter.

Potential bidders are said to include Macquarie Group, Actis, Blackstone, and Sembcorp, among others. Sources indicated that binding offers are expected shortly.

The company is reportedly seeking a valuation of around $250 million — significantly higher than estimates discussed roughly three months ago. According to one person aware of the discussions, consolidation in India’s renewable energy sector has strengthened valuation expectations, prompting an upward revision.

Earlier, in a report dated November 18, 2025, Mint had indicated that Welspun was exploring a stake sale at a valuation closer to $100 million. The group has appointed EY to advise on the transaction process and identify potential buyers.

Sector Consolidation Driving Interest

The proposed divestment comes at a time of heightened restructuring in India’s renewable energy market. As previously reported, the Union power ministry directed state-run power procurers — including Solar Energy Corporation of India, NTPC, NHPC, and SJVN — to cancel certain renewable energy contracts where signing of Power Purchase Agreements (PPAs) and Power Supply Agreements (PSAs) was deemed unviable.

Despite near-term contract clean-ups, long-term growth prospects for India’s clean energy sector remain strong. According to projections by the International Energy Agency (IEA), India is expected to require investments worth approximately $1.3 trillion in non-fossil fuel capacity and supporting infrastructure in the coming decades to meet its energy transition targets.

Strategic Timing

Industry observers note that rising investor appetite for operational renewable platforms, combined with sector consolidation, has intensified competition for quality assets. The expected transaction could position Welspun New Energy to attract long-term capital partners seeking exposure to India’s expanding green energy market.

Binding bids are anticipated in the coming weeks, though final deal terms and valuation will depend on due diligence outcomes and market conditions.