Yinson invests 37.5% stake in Indian solar plant

Yinson has entered into multiple agreements to acquire a 37.5% equity interest in Rising Sun Energy Private Limited (RSE), an India-incorporated company with two operational solar plants in the Bhadla Solar Park, Rajasthan, India.

Yinson will pay INR554 million (US$7.4 million) for the stake, subject to closing conditions, while also providing funding of INR600 million (US$7.9 million) to repay certain outstanding liabilities of RSE.

The agreements were entered into through Yinson Renewables (S) Pte Ltd.

The two adjoining solar plants have a combined generation capacity of 140 MW (AC rated) and achieved their scheduled commissioning dates in 2017. 25-year Power Purchase Agreements, expiring in 2042, have been signed with NTPC Limited, India’s largest power utility, majority-owned by the Government of India.