For sale: $300 million stake in low wind specialist Kenersys

INDIA: Industrial giant Kalyani is looking to sell a $300 million stake in its low wind turbine manufacturer Kenersys.

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Jointly headquartered in Germany and India, Kenersys specialises in turbines for low to medium wind speeds, and currently offers 2MW, 2.4MW and 2.5MW products.

Today it was reported by Reuters that Kenersys' Indian owner Kalyani is looking to sell a $300 million stake in the firm to potentially decrease both its own holdings in the firm at those of private equity firm First Reserve.

First Reserve became a strategic investor in Kenersys in 2008, helping to Kalyani grow the firm into its current status as a turbine manufacturer. Kenersys was only established as a company in 2007 following Kalyani's acquisition of small German turbine design and consulting company RSBConsult.

If Kalyani is successful in attracting new investment to Kenersys, it will follow similar transactions involving major investors such as Morgan Stanley and Goldman Sachs.

An infrastructure fund managed by Morgan Stanley in June bought a stake in Indian wind energy firm Continuum Energy for about $250 million, while the private equity arm of Goldman Sachs in December 2011 invested about $200 million in ReNew Wind Power.

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