Azure's 400MW Indian solar portfolio attracts investors

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Renewable energy

Region:

Asia-Pacific

A number of investor are holding early discussions for the potential acquisition of a 400MW solar project portfolio in India from Azure Power Global.

KKR & Co, Actis, Edelweiss Infrastructure and Ayana Renewable Power are negotiating the purchase of solar assets in Rajasthan and Assam. The deal size is estimated at between INR16 billion ($211 million) and INR17 billion, according to reports.

Azure Power is controlled by Canada’s Caisse de depot et placement du Quebec and is backed by the International Finance Corporation, Helion Venture Partners, Germany’s DEG and France’s Proparco. The company’s portfolio exceeds 7.1GW, including 1.8GW of operational solar power plants, 1.3GW under construction, 2GW in development and a further 2GW in the pipeline.

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