Edelweiss Infrastructure Yield Plus (EIYP), an alternate investment fund (AIF) managed by Edelweiss Alternative Asset Advisors Limited (EAAA), said on Thursday it has acquired the Indian solar energy assets of French utility Engie.
EIYP signed a strategic partnership with Engie, which has close to 2GW of solar assets in the country. Engie will develop the assets, which EIYP will acquire post commissioning as per agreed terms. The deal is estimated to be around $500 million. The companies did not divulge a figure.
EIYP and its investee company Sekura Energy Limited (Sekura Energy) completed the first stage towards acquisition of 74 per stake in the solar portfolio of the Engie Group, which has 813 MW of operating capacity in India.
