EverSource Capital eyes Azure’s 167-MW rooftop solar portfolio - report
Solar modules. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
Indian green energy infrastructure developer EverSource Capital is interested in buying the whole portfolio of rooftop solar projects of Azure Power Global Ltd (NYSE:AZRE), which has a total capacity of 167 MW, Mint reports, quoting two sources.
According to the informed people, EverSource Capital, which is a joint venture between private equity fund Everstone Group and UK-based Lightsource BP, is to pay around USD 112 million (EUR 94.9m) for the whole portfolio.
KPMG is running the sales process for the solar rooftop portfolio. The two companies have yet to reach a deal, according to one of the sources.
EverSource Capital manages the Green Growth Equity Fund, which invests in green infrastructure in India. Investments include distributed renewable energy platform Radiance Renewables and utility-scale renewable energy platform Ayana Renewable Power.