Radiance Renewables buys Azure’s solar rooftop assets for Rs 536 cr

Radiance Renewables Pvt Ltd, a 100 per cent subsidiary of the Green Growth Equity Fund, a leading Climate fund managed by EverSource Capital, signed an agreement to acquire solar rooftop assets of Azure Power Global Limited.

Radiance said the deal size was Rs 536.5 crore and includes 152.5 Mw of projects, out of which 8.1 Mw is under construction and 18.5 Mw of recently commissioned assets.

This is one of the largest acquisitions of rooftop solar assets in India, the company said

Through these projects, Radiance will supply power to large commercial consumer base including Indian Railways, DMRC, JNV, DJB among others.