IDFC arm to buy First Solar's power plants in India - report

First Solar PV plant. Source: First Solar Inc

April 13 (Renewables Now) - Тhe asset management unit of infrastructure financier IDFC Ltd (BOM:532659) is negotiating the acquisition of the Indian solar power assets of US firm First Solar Inc (NASDAQ:FSLR), Mint said today.

The deal with IDFC Alternatives is for about 200 MW and is “potentially valued” at some USD 200 million (EUR 188m), the business daily said, citing sources. Further details are not yet available.

First Solar makes photovoltaic (PV) modules and it is also the number-one global solar engineering, procurement, and construction (EPC) contractor. Last week it said it might sell its stake in solar power yieldco 8point3 Energy Partners LP (NASDAQ:CAFD) so as to fully align resources in support of its shift to Series 6 module production. First Solar also wants to speed up the return of capital from its downstream systems business by selling projects earlier in the construction phase, it said then.

(USD 1 = EUR 0.94)

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Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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