IBC SOLAR closes sale of solar project to NextEnergy Capital's fund
Date
July 08, 2020
Type
M&A Transactions
Subtype
Transaction completed
Countries
India
Subsectors
Photovoltaic
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IBC SOLAR Energy GmbH, a unit of IBC SOLAR AG, a leading global system house for photovoltaics (PV) and energy storage based in Germany, has completed the sale of its solar photovoltaic project in India to NextPower III, NextEnergy Capital’s third institutional solar fund.
The acquisition concerns the 27.4 MWdc solar photovoltaic project installed near the town of Kesinga in the Kalahandi district of Odisha, India.
The plant benefits from a long-term power purchase agreement in place with an investment-grade off-taker (AA+ rated), with a term of 25 years with 100% of the revenues contracted. The project has been in operation since May 2018.
