Netherland’s SHV buys Neev’s stake in SunSource Energy
Netherlands-based SHV Energy on Wednesday announced its entry into the Indian renewable energy space by acquiring 100% stake of Neev Fund — backed by SBI and the UK government — in SunSource Energy. Though the financial details of the deal were not disclosed, SHV Energy said it will ensure expansion of SunSource’s solar portfolio by 500 mega-watt (MW) by 2023. Industry watchers said this will need investments of around Rs 2,000 crore.
“India is a key market for SHV Energy and this investment underpins our long-term commitment to the region and advancement of renewable energy solutions,” Bram Gräber, CEO, SHV Energy said.
