Vadodara-based Madhav Infra Projects has put its 34 MW of solar assets up for sale. The company’s solar business is believed to be worth about R300 crore. Analysts reckon the move marks an incipient trend given that solar firms’ margins are falling to wafer-thin levels, making it difficult for smaller players to be in the business.
Confirming the development to FE, Amit Khurana, managing director, Madhav Group, said that with a drop in tariffs for solar projects and foreign institutional investors (FIIs) pumping in funds into the sector, adding further capacity has become extremely difficult for investors like him. “Although we have not finalised any deal as of now, we were in talks with investors like IDFC Alternatives and Welspun Group,” Khurana said. “We are also open to FIIs who are willing to take a piece of our commissioned assets with equity investments,” he added. Read More…
Credit By : Financialexpress.com
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