Fotowatio Renewable may seek a new buyer for India solar business
MUMBAI : Fotowatio Renewable Ventures (FRV), the largest Arabian green energy utility, is likely to seek a new buyer for its Indian solar business following delays in the ongoing negotiations with Rahul Munjal’s Hero Future Energies, said three people aware of the development, requesting anonymity.
FRV, owned by Abdul Latif Jameel Energy and Environmental Services, owns a 135 megawatt (MW) solar power project in India.
FRV was awarded the project located in Andhra Pradesh in a reverse auction by state-run Solar Energy Corp. of India (SECI) at a tariff of ₹4.43 per unit.
