ThomasLloyd Energy finalizes acquisition of Indian solar platform
Date
January 17, 2023
Type
M&A Transactions
Subtype
Transaction completed
Countries
India
Subsectors
Photovoltaic
Multisector
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ThomasLloyd Energy Impact Trust plc has acquired the remaining 57% of SolarArise India Projects Pvt. Ltd, which owns 434 MW solar farms in India, 234 MW of which are operational, and 200 MW of which are ready to be constructed.
With the US$38.5 million deal, ThomasLloyd Energy is now the sole owner of the platform. The initial 43% stake acquisition was completed in August 2022.
SolarArise obtains all of its operating revenue from 25-year government or quasi-government power purchase agreements at a fixed price.
