Delhi-based renewable energy company Juniper Green Energy has initiated talks with investment banks to evaluate an initial public offering (IPO), which could see the company raise as much as $200-250 million or more, sources aware of the development told Moneycontrol.
Juniper Green Energy is an independent renewable energy power producer and operator of solar, wind and hybrid power projects. The company is part of the AT Group which has an asset portfolio worth approximately $2.5 billion with global investments in renewable energy, residential & commercial real estate, hospitality etc. The Group has been building utility scale renewable energy projects in India since 2010 and built and owned Orange Renewable, a 1GW renewable energy platform, which it sold to Greenko Group in 2018.
The company has a portfolio of 1 gigawatts of operating renewable energy capacity, an under-construction capacity of over 500 MW and a development pipeline of more than 5 GW of solar, wind and hybrid projects.
“The company has held multiple rounds of discussions with investment banks on the IPO. Funds proposed to be raised through the IPO, if it fructifies, will be used to fund the development of its pipeline of renewable energy projects,” said one of the sources cited above.
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“At the moment we do not have any comments to give on this,” said a spokesperson for Juniper Green Energy.
In September 2023, Juniper Green Energy said that AT Capital Group and Vitol will invest $350 million to help the company increase its operational capacity to 2.5 GW by 2026.
Earlier this year in January, Juniper said that it has inked a memorandum of understanding with the government of Gujarat to establish 1GW of wind and solar projects in the state, with an investment of Rs 8,000 crore.
Renewable energy IPOs
Moneycontrol reported on April 11 that state-owned NTPC Green Energy has shortlisted four investment banks to manage its Rs 10,000 crore initial public offering, which would be the biggest by a state-owned entity since the share sale by Life Insurance Corporation of India in 2022.
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NTPC Green was incorporated in April 2022 as a wholly owned subsidiary of NTPC to consolidate the parent company’s renewable energy assets.
