One of the largest foreign investors in India’s solar power space, Engie SA has officially asked Rothschild to find a buyer for its Indian solar business. Engie’s move came when India solar tariffs went significantly low- Rs 2.44 per unit. This unit came up in an auction conducted by state-run Solar Energy Corp. of India.
“Engie confirms the appointment of Rothschild in the search for a potential partner for long-term growth in the solar business,” said Malcolm Wrigley, country manager, India for Engie.
Engie has a solar portfolio of 810 MW and it plans to set up 2GW capacity in India by 2019. It also has a wind power generation capacity of 80MW.
Engie has its presence in around 70 countries and it has been active in India since 20 years. In November 2016, Engie sold Meenakshi Energy coal-fired thermal plant in Andhra Pradesh to India Power Corp. Ltd, since then, it has been an actively looking for Indian clean energy space.
Other green energy firms which are active in India are India’s Bharti Enterprises Ltd and Foxconn Technology Group, Sembcorp, Alfanar, SBG Cleantech, Actis Llp, and Italy’s Enel.
