MUMBAI : Private equity (PE) investors KKR and Actis are in talks to acquire a solar portfolio of 435 megawatts (MW) from Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ)-backed Azure Power Global Ltd, said three people aware of the development.
“KKR and Actis are interested in acquiring the portfolio of solar projects from Azure. The transaction is likely to happen at a value of around $200-250 million,” said the first person cited above, requesting anonymity.
Investment bank Avendus Capital is advising Azure, the person said, adding that “the idea is to sell operating projects to release capital and use that for new and under-development projects in the pipeline”.
