Four companies vie for 400 MW solar assets of Azure Power
The deal size is pegged at Rs 1,600-1,700 crore
KKR, Actis, Edelweiss Infrastructure and Ayana Renewable Power are in early talks to acquire about 400 MW solar energy projects in Rajasthan and Assam from Azure Power Global.
The deal size is pegged at Rs 1,600-1,700 crore, or about $225 million. Avendus Capital is advising Azure Power for the asset sale.
Azure Power has a portfolio of more than 7.1 GW solar power projects under various stages in the country, including more than 200 MW rooftop portfolio across 24 states. It has 1.8 GW operational projects, 1.3 GW under construction, two GW in development, and two GW in the pipeline.