Vibrant Energy, a company involved in supplying renewable energy solutions to corporate customers in India, has been in talks with Bain Capital, Sun Energy, and Vitol for a potential sale at an enterprise value of $500 million. Macquarie's Green Investment portfolio includes Vibrant Energy, which currently operates and supplies 1.9 GW of renewable energy and has an additional 3 GW in its active pipeline. Specializing in developing open-access renewable energy solutions like wind and solar, Vibrant Energy caters to the energy needs of corporate clients.
Despite the earlier discussions for a sale, Vibrant Energy has decided to prioritize its ongoing projects and defer the business sale to a later date. Blueleaf Energy, a majority stakeholder in Vibrant Energy, is part of Macquarie's Green Investment Group, while the remaining shares are held by ATN International, based in the US. Blueleaf Energy Asia entered the Indian market by acquiring the majority stake in Vibrant Energy from ATN International. Macquarie's Green Investment Group is actively developing a 90 gigawatts (GW) portfolio spanning across 25 global markets.
Recent reports indicate that Vibrant Energy has secured power purchase agreements with Amazon and Saint-Gobain India for renewable energy projects in India. Additionally, the company has partnered with Sify Technologies for solar and wind energy capacity. As part of expanding its renewable energy projects, Vibrant secured project financing of approximately Rs 2,200 crore from Power Finance Corporation for constructing wind-solar hybrid projects in Madhya Pradesh and Karnataka. Macquarie Group, with a significant investment history in India's infrastructure sector, has been actively involved in investing in the country's growth, particularly in the commercial and industrial sector which makes up half of the nation's energy demand.