April 05, 2021
The deal covers 152.5 MW of assets
Mumbai-based Radiance Renewables Pvt Ltd, a wholly-owned subsidiary of Green Growth Equity Fund (GGEF), has entered into an agreement to acquire Azure Power Global Ltd’s solar rooftop assets for ₹536.5 crore.
The assets are based in India, while the deal covers 152.5 MW of assets including 8.1 MW that is under construction and 18.5 MW that was recently commissioned.
Following this acquisition, Radiance will be able service high-quality customers such as Indian Railways, Delhi Metro Rail Corporation and Delhi Jal Board amongst others where 99 per cent of power purchase agreement are for 25 years.
“This strategic acquisition will position Radiance as a significant pan-India player in the commercial, industrial and institutional segments with exposure to long-term power purchase agreements with quality customers based on net metering in the build-out of its distributed generation platform. This transaction allows Radiance to b
Radiance Renewables buys Azure s solar rooftop assets for Rs 536 cr
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Azure Power Sells Non-core Solar Rooftop Portfolio to Radiance Renewables; Transaction Expected to Improve Overall Cost Structure and be Value Accretive
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SHV, NIIF look to buy stake in Fourth Partner Energy
Fourth Partner Energy (4PEL) is building solar parks in Uttar Pradesh, Maharashtra and Tamil Nadu.bloomberg
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Netherlands’ SHV Energy and India’s quasi-sovereign wealth fund National Investment and Infrastructure Fund (NIIF) are separately looking to buy a stake in Hyderabad-based Fourth Partner Energy (4PEL) for about $150 million, two people aware of the development said.
Fourth Partner Energy focuses on the commercial and industrial (C&I) segment and has an operational portfolio of 400MW. It is building solar parks in Uttar Pradesh, Maharashtra and Tamil Nadu.