Actis to acquire 685 MW Indian solar projects from Essel

Actis LLP has reached an agreement to its acquisition of the solar power portfolio of Indian company Essel Infraprojects Ltd, which includes 685 MW of installed capacity. It will be acquired for INR5500 million (US$76.4 million).

The portfolio is composed of 23 projects, under various stages of development, with nearly 310 MW of operational solar power facilities and another 375 MW capacity under construction.

The assets have power purchase agreements (PPAs) with tariffs as high as INR8 per kWh , while the average amounts to INR 5.50/kWh.