In 2012, Morgan Stanley Infrastructure Partners, which manages more than $4 billion in assets globally, had invested $212 million in India-focused Continuum Wind, founded by Arvind Bansal and Vikash Saraf in 2009.
Morgan Stanley currently has a majority stake in Continuum Wind.
Norway’s state utility Statkraft has emerged on top in the race for Continuum Wind Energy.
Statkraft entered India in 2004, becoming the first foreign investor in Indian hydropower. It has equity stakes in Malana and Allain Duhangan projects in Himachal Pradesh and acquired the 100MW Tidong hydropower project in Himachal Pradesh last September.
Continuum has more than 700MW of operational wind assets, making it one of the largest portfolios currently up for sale. The size of the portfolio makes it very attractive for strategic investors looking to expand their portfolio in India.
Continuum’s portfolio is spread across Maharashtra, Tamil Nadu, Gujarat, Madhya Pradesh and Telangana. The first two states make up the bulk of its operational assets.
Statkraft is the only player left in the fray now. They are currently conducting a due diligence on the Continuum portfolio.
Reference- livemint