Canadian Solar Looking To Sell Its Indian Solar Assets

In Clean News, News, Renewable Energy, Solar

Ontario-based Canadian Solar is looking to sell its India solar power assets to  Sydney -based infrastructure asset management group Macquarie Group Ltd.

Macquarie may have to shell out ₹1,000 crore for these assets at a valuation of ₹6-6.5 crore for each MW.

Canadian Solar is a global energy provider with subsidiaries in 20 countries. It is a leading manufacturer of solar photovoltaic modules. It also operates as an engineering, procurement and construction player, besides being a solar park developer.

In India, Canadian Solar has a portfolio of 160 megawatts (MW), and has installed over 1 gigawatts (GW) of modules, including a 25 MW solar farm in Bikaner, Rajasthan, and a 35 MW project in Bagalkot, Karnataka.

Canadian Solar also has a joint venture with domestic wind power firm Suzlon Energy Ltd to execute solar projects in Telangana.

This is a bad time for the solar sector. There is no cheap money in this market anymore,” he added, “The high valuations we saw for renewable assets at 8-9 times Ebitda (Ebitda stands for earnings before interest, tax, depreciation and amortization) earlier in the year are now past. The sentiment in the market is quite poor.

 

 

 

 

 

 

Reference- livemint

Join Our Newsletter!

Love Clean Future? We love to tell you about our new stuff. Subscribe to newsletter!

Mobile Sliding Menu

Do NOT follow this link or you will be banned from the site!