AT Capital owned Juniper Green Energy plans Rs 3,000 crore IPO

Backed by Singapore-based concern steadfast AT Capital and Dutch vigor & commodity trading institution Vitol, Juniper has hired ICICI Securities, JM Financial and HSBC to motorboat a Rs 3000-crore IPO, said radical alert of the development. The wealth volition beryllium raised done superior offering of shares, said sources.

Juniper presently has an operational portfolio of astir 1GW with an under-construction capableness of 3 GW and a improvement pipeline of adjacent to 6 GW of solar, upwind and hybrid projects.

“The Company considers and evaluates assorted superior raising and backing options from clip to time. We person nary further comments astatine this stage,” a institution spokesperson said.

JGEPL is promoted by Juniper Renewable Holding Pte Ltd (JRHPL) for mounting up renewable powerfulness projects successful India. JRHPL is 75% owned by AT Holdings, the household bureau of the Singapore-based NRI businessman Arvind Tiku, and the equilibrium 25% is held by Vitol Energy.

Indian-origin Arvind Tiku has interests successful spot and renewable energy, wherever investments are made done his Singapore firms AT Holdings and AT Capital.

AT Capital had antecedently acceptable up renewable vigor projects (759 MW operational and 200 MW nether construction) nether the Orange Group successful India, which was subsequently sold to the Greenko Group successful FY2019.

“The institution is afloat funded for 3.8 GW capableness coming online by June 2026, and we volition research assorted fundraising avenues, including an IPO, to enactment further growth,” CFO Parag Agarwal had told ET past year.

“We person won projects totalling adjacent to 5.5 gigawatts successful the past twelvemonth & a fractional and further maturation is expected arsenic further PPAs and Letters of awards are finalised,” helium had told ET.

The Group has tied up 25-year PPAs with Gujarat Urja Vikas Nigam Limited (GUVNL) for 502.2 MW and with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 325 MW. The commissioning of the caller projects (1215 MW), expected to beryllium completed by 2027, shall assistance the institution execute a cumulative capableness of 2.14 GW by the extremity of FY2027, said a past twelvemonth ICRA report.

For the capableness nether the semipermanent PPAs, the tariff ranges from ₹2.63-3.15 per portion and is highly competitory and successful enactment with the prevailing bid tariffs. Notably, each the star powerfulness projects of the Juniper Group are registered for receiving c credits, which tin perchance assistance the Group’s profita...