Leading infrastructure investor Global Infrastructure Partners (GIP) is in advanced negotiations to buy the solar portfolio of RattanIndia Power Ltd (formerly India Bulls Power) for an enterprise value of about $300 million (Rs 2,000 crore), multiple people aware of the development told ET.
“Due diligence of solar assets by GIP is over and currently the documentation work is on. The deal is expected to be closed in a month,” said one of the persons cited above. A GIP spokesperson declined to comment, while a RattanIndia Power spokesperson said “the information is speculative.”
RattanIndia has a projects portfolio of more than 300 MW, and these include both ground mounted solar projects and rooftop solar panels. While 154 MW of ground mounted solar plants are under development, 116 MW capacity is already operational. Read More