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The Green Pivot | CESC and SB Energy's exits point to lacklustre returns in renewable energy

Torrent Power is acquiring CESC's wind energy project subsidiary at 1.05 times the price to book value ratio

September 24, 2021 / 08:45 AM IST
The Green Pivot | CESC and SB Energy's exits point to lacklustre returns in renewable energy

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Green energy may be the future but not everyone is finding it to be a lucrative one. Take the case of CESC and SB Energy India. CESC sold a large chunk of its renewable energy business this week, at a price close to its book value. The company agreed to sell its wind energy subsidiary Surya Vidyut at 1.05 times its book value. The enterprise value (EV) to operating earnings stood at 8.1 times. Surya Vidyut operates 156 megawatt...

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