Engie appoints Rothschild for the equity sale of its Indian solar portfolio
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.
Country updates
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July 18, 2018
The project has been commissioned
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