GIP, Edelweiss Infra in final lap to buy Engie’s India solar portfolio
MUMBAI: Global Infrastructure Partners (GIP) and EdelweissNSE 1.34 % Infrastructure Yield Plus fund are competing to acquire the solar energy portfolio of French major Engie in India for around $400 million, said two people aware of the development.
Both have submitted firm offers and a final decision is due in the next couple of weeks. Actis, another global investor in the race, had backed out recently.
Engie has a renewable energy capacity of 1.5 GW in India. It has an installed capacity of 810 MW in solar and a capacity of 280 MW in wind. Rothschild & co is running a sale mandate for Engie.
