Thailand’s Banpu, Just Climate, and CapitaLand are competing in a bidding process to acquire Radiance Renewables for approximately $325 million. The bidding highlights a trend toward consolidation in the renewable energy market, with significant players actively seeking to expand their sustainable energy portfolios.
On September 25, 2024, it was reported that Banpu Public Company Limited, a Thailand-based firm, is in contention to acquire Radiance Renewables, a company backed by Eversource Capital, in a transaction valued at approximately $325 million. In addition to Banpu, the competition for this acquisition includes Just Climate, which is associated with Generation Investment Management, and CapitaLand Investment Limited, both of which have successfully advanced to the second round of bidding after presenting non-binding offers.
This acquisition reflects the growing interest in renewable energy investments and the strategic moves by companies looking to enhance their portfolios in sustainable energy sectors. Radiance Renewables is recognized for its role in renewable energy development, making it a desirable target for companies aiming to strengthen their position in the green energy market. The competitive bidding process involving such notable firms indicates a broader trend of consolidation within the renewable energy industry, driven by an increasing global emphasis on sustainability.
The potential acquisition of Radiance Renewables by Banpu, alongside competitors Just Climate and CapitaLand, underscores a significant movement within the renewable energy sector. As firms strategically position themselves to lead in this vital industry, the outcome of this bidding war will likely have substantial implications not only for the involved entities but also for the broader market focusing on green energy investments.
Original Source: www.livemint.com
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