SBG Cleantech looks to raise up to $750mn

SBG Cleantech looks to raise up to $750mn
SBG Cleantech looks to raise up to $750mn

SoftBank-backed renewable energy firm is looking to raise funds for its projects in India and US.

SBG Cleantech, a renewable energy joint venture between SoftBank and India's Bharti Enterprises, is in talks with investors to raise up to $750 million for its current and future projects in India and US.

The company will start formally approaching potential investors in coming weeks. The target investors include infrastructure-focused private equity funds, sovereign wealth funds, global utilities, and pension funds. SBG Cleantech has mandated Bank of America Merrill Lynch and Barclays for the fundraise.

“SB Energy is exploring potential co-investment partnerships to accelerate growth of its leading renewable energy platform. SoftBank is fully committed to its long-term ownership of SB Energy and has no plans to divest the business,” a SoftBank spokesperson said in a report.

The company claims to have 7.7 GW of projects lined up in India and expects to reach 20 GW over the next five years. Managements states that nearly 2 GW is operational and 2 GW under construction, and additional 3,700MW under 'active development'.

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