Malaysia’s Petronas has bid INR38bn (USD460mn) for a 20% stake in the green energy arm of India’s largest power producer, NTPC, in the first deal of its kind by a state-run firm. The bid price was higher than the INR30bn NTPC had been expecting when it asked for expressions of interest in NTPC Green Energy (NGEL) last year and was 78% above the second-highest bidder. It values the unit at USD2.3bn.

Source: ESGNews