Vector Green acquires Solar Project from IL&FS Energy

In Clean News, News, Renewable Energy, Solar

Vector Green Energy Pvt. Ltd, the renewable energy platform of private equity firm IDFC Alternatives, has acquired Malwa Solar Power Generation Ltd, a 40 megawatt solar project in Madhya Pradesh from IL&FS Energy Development Company Ltd.

IDFC Alternatives is the private equity arm of IDFC Ltd.The deal size was not disclosed. However as per our estimates, the deal size could be Rs 240-250 crore.

Vector Green Energy is now focusing on diversifying its portfolio to include some commercial and industrial solar roof-top assets. IDFC Alternatives’ India Infrastructure Fund II has established Vector Green Energy as the operating-cum-holding company for its investments in the renewable energy space.

In July 2017, IDFC Alternatives had entered into an agreement with First Solar to acquire the 190 MW of solar power assets across seven projects in India. Last month, IDFC Alternatives said it is looking at acquiring renewable energy assets of 240 MWp from different owners. Binding agreements for these capacities have already been executed and the firm expects to complete the acquisitions by March.

IDFC Alternatives has about Rs 17,700 crore worth of assets under management, with multiple funds across three asset classes – infrastructure, private equity and real estate, according to its latest annual report.

Join Our Newsletter!

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

Mobile Sliding Menu

Clean Future