GIP shops 1.1GW platform

BlackRock’s Global Infrastructure Partners is shopping Vena Energy India, a 1.1 gigawatt renewable power platform, to local buyers in a sale process now moving toward binding bids. (economictimes.indiatimes.com) The latest round of bidders includes Jindal Renewables, INOXGFL Group and Edelweiss-owned Sekura Energy, according to people cited by The Economic Times. The report said the asset is being discussed at about ₹4,500 crore to ₹5,000 crore. (economictimes.indiatimes.com) An earlier February report said four firms were conducting due diligence on the same platform and described Vena Energy India as a 1.1 gigawatt business with operating assets and projects under construction. That report also put the expected valuation in the same ₹4,500 crore to ₹5,000 crore range. (economictimes.indiatimes.com) The sale comes after BlackRock completed its acquisition of Global Infrastructure Partners on October 1, 2024, folding one of the world’s biggest infrastructure investors into its own platform. BlackRock said the combined business would operate under the Global Infrastructure Partners brand inside BlackRock. (blackrock.com) Vena Energy India is not a development-stage concept. An October 2025 sale-process report said the business had 957 megawatts of operating renewable assets, 59 megawatts under construction, a 1.25 gigawatt solar-and-wind pipeline and 752 megawatt-hours of battery storage systems. (mnacritique.mergersindia.com) That mix helps explain the buyer list. Jindal Renewables has been building out clean-power capacity for steel and industrial demand, while INOXGFL has been expanding across equipment, project execution and power generation in renewables. (economictimes.indiatimes.com) (renewablewatch.in) The process also shows how India’s renewable market is trading in larger packaged portfolios rather than single projects. Buyers get contracted assets that already generate power, plus a pipeline that can be built out on the same platform. (economictimes.indiatimes.com) (mnacritique.mergersindia.com) For Global Infrastructure Partners, the India process is part of a broader portfolio reset after the BlackRock deal. For Indian buyers, it is a chance to buy scale in one transaction instead of assembling hundreds of megawatts project by project. (economictimes.indiatimes.com) (blackrock.com) The next marker is binding bids, which The Economic Times said are expected next month. Until then, Vena Energy India is serving as a live test of what operating renewable portfolios can fetch in India’s current market. (economictimes.indiatimes.com)