Engie appoints Rothschild for the equity sale of its Indian solar portfolio

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Engie has appointed Rothschild as financial adviser for a partial equity sale in its Indian solar business. Rothschild has confirmed the appointment in the search of a potential partner for long-term growth in the solar business of Engie. 

The plan to sell its stakes comes at a time when financing at the lowest cost has become key to success, given the record low tariffs. India had achieved solar power tariffs of ₹2.44 (UD$0.034) per unit in May 2017. Earlier this month, it again touched ₹2.44 per unit in an auction conducted by state-run Solar Energy Corp. of India.

Engie has an 810 megawatt (MW) solar portfolio through its subsidiary Solairedirect. It also has a wind power generation capacity of 80 MW. The company plans to set up two gigawatts (GW) capacity in India by 2019. 

 

List of the country updates

Country updates

  • July 18, 2018

    The project has been commissioned

    The project has been commissioned. It was completed in line with the power purchase agreement (PPA) time schedule

  • July 16, 2018

    GE to power 300 MW wind project in Gujarat

    KP Energy has awarded a contract to General Electric Co to supply wind turbines for the 300 MW wind project located in the Kutch district of Gujarat, India. GE will supply wind turbines with...

    Read more
  • July 11, 2018

    Azure won the 160 MW solar park in a tender

    In a solar auction, Azure Power has won the 160 MW solar facility with a state bid of INR 3.55 (USD 0.052) per kWh. Under a term of 25 years, a power purchase agreement (PPA) will be signed with Uttar...

    Read more
  • July 10, 2018

    5.5 GW tendered and 2.75 GW renewable capacity awarded in India

    The Solar Energy Corporation of India (SECI) has published two Requests for Selections (RfS) for the development of 5.5 GW capacity on build-own-operate bases. One RfS seeks to award 3 GW solar photov...

    Read more
  • July 06, 2018

    Maharashtra launches 750MW solar tender

    A tender for a total capacity of 750 MW in solar photovoltaic projects has been issued by The Maharashtra State Power Generation Company (MAHAGENCO), aiming to cater to the agricultural (AG) feed...

    Read more

Share this update