Engie discusses Indian solar business with Edelweiss fund - report
The 101-MWp Mirzapur solar power plant in Uttar Pradesh. Source: Engie
French utility Engie SA (EPA:ENGI) is holding talks to possibly sell a stake in its Indian solar business to an alternative investment fund managed by Edelweiss Alternative Asset Advisors Ltd, Mint reports, quoting two sources.
One of the informed people told the newspaper that Edelweiss Infrastructure Yield Plus Fund is actively scouting for renewable energy opportunities in India and is considering buying a stake in Engie’s Solairedirect. Meanwhile, the French group has mandated Rothschild to find a buyer, according to the report.
In March, the same newspaper published a report about Engie’s plan to sell a Solairedirect stake.
Engie currently has 810 MWp of solar and 280 MW of wind power generating capacity installed in India. Earlier this year, it inaugurated the 101-MWp Mirzapur solar power plant in Uttar Pradesh and commissioned its 190-MWp Bhadla solar park in Rajasthan.