Essel Infraprojects Ltd, a part of the Subhash Chandra-led debt-laden Essel Group, has agreed to sell about 310 megawatts (MW) of solar energy assets to the Adani Group at a valuation of ₹1,800-2,000 crore, said two people aware the development.
This would be the third sale for Essel Infra, which aims to monetize assets to pay off creditors.
Of its total solar energy portfolio of 685MW that Essel Infra won under the National Solar Mission and state government auctions, about 310MW is currently operational. The projects for generating the remaining 375MW are under construction.
“Essel Infra has reached an agreement with the Adani Group to sell its operational portfolio at ₹5-6 crore per megawatt. Read More
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