Azure Power plans to raise $700 million for expansion

Mumbai: Solar-focused renewable energy company Azure Power Global is looking to tap existing investors – Canada’s CDPQ and OMERS – and also exploring options like selling minority stakes in its projects and bank debt, to raise as much as ₹5,800 crore ($700 million) to fund capacity expansion.

It is considering part equity and part debt for the fundraising as it works to limit leverage.