New Delhi, April 28 -- Finland's state-run energy utility Fortum Oyj is exiting India's renewable energy market by selling its platform Fortum India Pvt. Ltd (FIPL) to New York-based I Squared Capital-backed Hexa Climate Solutions in a deal that includes management company and carbon credits, two people in the know said.
There were five bidders in the sales process run by EY, including Japan' Marubeni Corp, Dutch pension fund APG and infrastructure fund manager AP Moller Capital. A total of 10 companies including steel and mining major ArcelorMittal signed non-disclosure agreements for the deal called project Samsara.
Mint couldn't ascertain the value of the deal that marks an important point in the third-largest Nordic utility Fortum's e...