Currently, Ayana is developing two solar power projects of 250 MW each in Andhra Pradesh.
Green energy infrastructure developer EverSource Capital is reportedly trying to buy into Ayana Renewable Power, a clean energy platform of UK’s development financial institution CDC Group.
The company is in negotiations to buy a minority stake in the wind and solar player, according to ET.
Sources familiar with the matter told the daily that EverSource Capital, which is a joint venture between private equity fund Everstone Group and UK-based solar project developer Lightsource BP, is looking to invest around $100 million in Ayana.
Ayana aims to install 2 GW of renewables by 2022
Ayana Renewable Power is wholly funded by the CDC Group and was set up to build wind and solar parks in India’s most polluted urban areas and other countries in the sub-continent including Bangladesh, Nepal, Bhutan, Sri Lanka and Myanmar. It is targeting to install at least 2 GW of renewables at home and other South Asian markets by 2022.
Currently, Ayana is developing two solar power projects of 250 MW each in Andhra Pradesh.
The capacity will be commissioned in June 2020 and power purchase agreements (PPAs) are already in place.
