Global Infrastructure Partners’ India arm close to buying Rattan India Solar

Vector Green Energy, the Indian business unit of New York-based Global Infrastructure Partners (GIP), has successfully completed the negotiations to acquire the 300 mega-watt (MW) solar generation capacity of Rattan India, according to people aware of the developments. The acquisition will double Vector Green’s portfolio in the country to nearly 600 MW.

Both the companies did not respond to FE’s queries over the deal till press time. Though the financial details of the deal were not revealed, industry experts have pegged the valuation of RattanIndia solar assets between Rs 1,500-2,000 crore.