Top Green Energy Banker Predicts $150 Billion in Deals in India
All roads lead to India’s domestic energy players for overseas investors seeking a piece of the country’s renewables boom — and the bankers who sit across the table from them.
According to statistics provided, Bank of America Corp.’s Gaurav Singhal leads the busiest team in India’s green energy M&A sector over the last 12 months. The largest of the transactions involved the American bank advising SoftBank Group Corp. on the sale of its renewables business in India to Adani Green Energy Ltd. for $3.5 billion earlier this year.
Foreign purchasers will definitely continue to vie for assets; Singhal estimates that the sector will receive more than $150 billion in equity investment by 2030. However, he claims that the majority of strategic investors from abroad want to support local entrepreneurs.
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