Nasdaqlisted Taaleri eyes Fortum India’s solar projects

NEWDELHI: Nasdaq Helsinki-listed Taaleri Plc has evinced interest in acquiring a stake in Finland’s state-controlled power utility Fortum OYJ’s operational Indian solar power projects, said two people aware of the development.

Fortum is present in electricity, heating and cooling businesses in Nordic and Baltic countries, Russia, Poland and India with €3.6 billion in annual sales. Fortum India’s operation has a solar power project portfolio 215 megawatt (MW).

Mint reported on October 23 about Fortum OYJ hiring Barclays Bank to run the sales process to attract growth capital.

Taaleri has three lines of businesses—wealth management, financing, and energy. Also, Taaleri Solar Wind fund is Finland’s first equity fund to invest in overseas green energy assets.

“Taaleri is interested in Fortum’s operational Indian solar power projects,” said a person requesting anonymity.

Another person who also didn’t want to be identified confirmed the development.

A Barclays spokesperson declined to comment.

A Taaleri spokesperson in an emailed response said: “Taaleri is an active actor in the market having multiple projects in progress. We have a policy not to comment on any market rumors.”

“... There is so far no news regarding any such negotiations, and as a principle, we don’t comment on market rumours,” a Fortum OYJ spokesperson in an emailed response said.