The consultancy Bridge to India expects that several Indian solar companies will file an initial public offering (IPO). As reported, Acme Solar targets to acquire INR 22 billion ($336 million). According to Bridge to India, Singapore-based energy, water and marine group Sembcorp may list its Indian unit either in India or elsewhere. »Our understanding is that Renew Power is also keen to launch an IPO sometime in the coming year.« Solar developers are scrambling to raise capital to sustain business growth, says Bridge to India. Adani, Greenko and Tata Power Renewable, because of their portfolio size, are potential candidates for an IPO in near future. Nine private developers have built up large solar portfolios exceeding 500 MW in the past couple of years: Adani (2,038 MW), Acme (1,713 MW), Renew (1,659 MW), Greenko (1,407 MW), Tata Power Renewable (1,382 MW), Azure Power (1,102 MW), Essel Infra (710 MW), Engie (694 MW) and Hero Future
Energies (540 MW) in addition to wind capacity as of September 2017.
Azure Power was the last Indian renewable IPP to list on New York Stock Exchange about 12 months ago.
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