Essel Infra to sell solar assets to Adani Group for up to ₹2,000 crore - News Summed Up

Essel Infra to sell solar assets to Adani Group for up to ₹2,000 crore


MUMBAI: Essel Infraprojects Ltd, a part of the Subhash Chandra-led debt-laden Essel Group, has agreed to sell about 310 megawatts (MW) of solar energy assets to the Adani Group at a valuation of ₹1,800-2,000 crore, said two people aware the development. Of its total solar energy portfolio of 685MW that Essel Infra won under the National Solar Mission and state government auctions, about 310MW is currently operational. “Essel Infra has reached an agreement with the Adani Group to sell its operational portfolio at ₹5-6 crore per megawatt. The Essel Group has tried to sell the solar assets in the past year. In February 2019, Essel Infra initiated talks with ACME Solar Holdings, another solar power developer, but this deal also fell through.


Source: Mint June 17, 2019 18:33 UTC



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