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First Solar seeks to offload 45-MW PV portfolio in India - report

Solar plant. Photo by: First Solar (www.firstsolar.com)

June 17 (Renewables Now) - US thin-film solar module maker First Solar Inc (NASDAQ:FSLR) is looking to sell a 45-MW photovoltaic (PV) plant portfolio in the Indian state of Karnataka, Mint reports quoting two informed sources.

One of the insiders has said that First Solar is managing the sale process on its own and is currently reaching out to financial and strategic investors. The other source has added that the planned divestment could fetch about INR 3 billion (USD 43m/EUR 38m).

Both sources have noted that discussions with interested parties are at a preliminary stage.

This would be the second such sale by First Solar in India as in 2017 it disposed of 190 MW of PV assets across seven sites in Andhra Pradesh and Telangana to IDFC Alternatives.

(INR 10 = USD 0.143/EUR 0.128)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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