O2 Power, Ayana in fray to buy 305MW solar assets of Azure
European alternative asset manager EQT and Temasek promoted O2 Power and CDC Group Plc-backed Ayana Renewable Power have emerged as the front-runners to acquire 305 MW solar assets of NYSE-listed Azure Power Global, said two people aware of the development.
The potential deal is valued at about $200 million, with the sales process for International Finance Corporation (IFC) and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) backed Azure Power’ assets being run by Avendus Capital.
This comes against the backdrop of EverSource Capital’s plan to buy out the entire 167 MW solar rooftop portfolio of Azure as reported by Mint earlier, in what may rank among the largest solar rooftop deals in India.
