(Bloomberg) -- GIC Pte is working with JPMorgan Chase & Co. to help advise on a strategic review of options including a sale of its 50% stake in India’s Greenko Energy Holdings, people familiar with the matter said, in what could be one of the biggest disposals in the country.

The Singapore state investor is moving ahead with preparations for a potential deal that could involve a full or partial sale of its holding in Greenko, the people said, asking not to be identified because the deliberations are private. Some investment funds and strategic firms have expressed preliminary interest, the people said.

Considerations are preliminary and GIC could still decide against pursuing a deal, the people said. Representatives for GIC and JPMorgan declined to comment.

Bloomberg News reported in October that GIC was considering options for its 50% stake in Greenko, including a sale. A deal could value the renewable energy firm at about $10 billion, people familiar with the matter have said.

Greenko, which has other backers including Abu Dhabi Investment Authority, known as ADIA, and Japanese financial group Orix Corp., may also seek to raise funds in the coming months to help its growth, a person familiar with the matter has said.

Dealmaking activity in India has jumped this year amid interest from global investors seeking to tap into the country’s growth potential. The volumes of deals involving Indian firms this year has increased 23% from a year earlier, according to data compiled by Bloomberg.

Greenko has 7.5 gigawatts of net installed capacity across wind, solar and hydro power in 15 states in India. Last year, it raised $700 million from GIC, ADIA, Orix and the company’s founders to invest in pumped storage projects.

--With assistance from Manuel Baigorri.

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