French utility Engie SA is holding talks to possibly sell a stake in its Indian solar business to an alternative investment fund managed by Edelweiss Alternative Asset Advisors Ltd.
Edelweiss Infrastructure Yield Plus Fund is actively scouting for renewable energy opportunities in India and is considering buying a stake in Engie’s Solairedirect. Meanwhile, the French group has mandated Rothschild to find a buyer, according to the report.
Engie currently has 810 MWp of solar and 280 MW of wind power generating capacity installed in India. Earlier this year, it inaugurated the 101-MWp Mirzapur solar power plant in Uttar Pradesh and commissioned its 190-MWp Bhadla solar park in Rajasthan.
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