Banpu Public Co. Ltd, a Thai energy conglomerate, has thrown its hat into the ring to acquire Radiance Renewables, an Eversource Capital-backed firm, for approximately $325 million. Radiance Renewables has captured the attention of the major players in the renewable energy sector, leading to a heated competition for dominance. The shortlisted candidates for the second round of bidding are Banpu Public Co. Ltd, Generation Investment Management’s Just Climate, and CapitaLand Investment Ltd. All three companies have submitted non-binding offers, indicating their serious intention to seal the deal.
Banpu Public Co. Ltd, founded in 1983, has established itself as a prominent player in the energy sector, with operations spanning across coal, power, and renewable energy. The acquisition of Radiance Renewables would be a strategic move to bolster its presence in the renewable energy space. With a portfolio of projects in the pipeline, the acquisition would enable Banpu to tap into new markets and further solidify its position as a major player in the industry.
Just Climate, a subsidiary of Generation Investment Management, is also a strong contender in the bid for Radiance Renewables. As a firm dedicated to sustainable investing, Just Climate has been actively searching for opportunities to expand its renewable energy portfolio. The acquisition of Radiance Renewables would align perfectly with the firm’s mission and provide a significant boost to its efforts in promoting sustainable energy solutions.
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