Mumbai, Aug. 19 -- Global private equity firm Blackstone and Gurugram-based Serentica Renewables are leading the race to acquire the solar assets of Norwegian energy firm Statkraft in India, while Adani Group and JSW Group are in the fray to acquire its hydro power plants, three people said.

Serentica, which is backed by PE firm KKR, has also bid for Statkraft's wind assets in India.

Statkraft's solar assets in the country are likely to be valued at Rs.1,700-1,800 crore and the hydro assets at Rs.1,400-1,500 crore, according to the people familiar with the developments.

"The binding bids have been submitted and the seller will proceed with one of the buyers for each category of assets," one of them said.

EY Norway is advising Statkraf...