RattanIndia sells 306MW solar projects to GIP for Rs 1,670 crore
RattanIndia Group announced on Wednesday the sale of it 306 mega-watt (MW) of solar projects to New York-based Global Infrastructure Partners (GIP) for Rs 1,670crore ($232million).
As much as 297 MW of the ground mounted capacities, spread across Karnataka, Maharashtra, Rajasthan and Uttar Pradesh, are rooftop solar plants. The projects sell power mostly to solar aggregators NTPC and SECI, reducing the payment risks usually associated with state-run power distribution companies. The average tariff at which they sell electricity is Rs 4.5/unit, significantly higher than the tariffs observed in solar auctions in recent years.
