Atha Group Plans to Exist Clean Energy Business; In Talks To Sell 365 MW Assets

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Atha Group, Kolkata based mining and mineral company plans to exit their clean energy business.  The company is in talks to sell its 365 MW of renewable energy assets.

Atha has 200 MW assets in Tamil Nadu, 15 MW in Telangana, 20 MW in Karnataka, 50 MW in Maharashtra and the remainder is in Rajasthan and Madhya Pradesh.

The proposed deal is probably going to be worth the assets at an enterprise worth of Rs.2000 Crore,  mentioned by a number of individuals conscious of the event.

The bids are anticipated to be in by the end of this month, mentioned one among the many sources.

“As part of the continued process of evaluation of various businesses, we have appointed Avendus to look for suitable options regarding our renewable energy portfolio,” mentioned Atha spokesperson. But, at this juncture, we’d not be in place to expose something additional on the matter, he added.

In 2017, Atha Group corporations, Narbheram Vishram and NVR Energy had received the bid to provide 200MW of solar energy to Tamil Nadu Generation and Distribution Corporation (TANGEDCO), out of the 2000 MW capability sought to be developed by TANGEDCO.

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