 "RattanIndia sells entire solar portfolio of 306 Mw to GIP for Rs 1,670 cr")
RattanIndia Group sold off its entire solar power project fleet totalling 306 Mw to Global Infrastructure Partners (GIP), one of the largest private equity firms in the renewable energy and infrastructure space. The deal value is Rs 1,670 crore, RattanIndia said in a public statement.
With this deal, RattanIndia now has only two power plants in its basket – Amaravati thermal power plant (1,350 MW) for which it concluded debt restructuring in December 2019 and Nashik thermal power plant (1,350 MW) which is a stressed asset.
The Group’s solar assets included ground mounted projects of 297 MW including 50 MW in Pavagada in Karnataka and 70 MW in Bhadla, Rajasthan –two of India’s largest solar power parks.
