NEW DELHI: American investor Global Infrastructure Partners (GIP) is in talks to buy the Indian solar power business of French energy firm Engie SA in a deal potentially worth around $500 million, a person aware of the development said. GIP is interested in Engie Solar, which has an 1,100 megawatt (MW) solar portfolio in India, the person said on the condition of anonymity. Mint had earlier reported that private equity (PE) fund Actis Llp and Edelweiss Infrastructure Yield Plus Fund were in talks to buy the French firm’s Indian solar power business. The two infrastructure-focused funds of IDFC Alternatives—India Infrastructure Fund and India Infrastructure Fund II—which have a total corpus of a little over $1.8 billion, have now transitioned to GIP. Mint had on 19 March last year reported about Engie’s plans to sell a stake in its solar power portfolio.

Source: Mint June 14, 2019 17:48 UTC