US-based GIP in talks to buy Engie’s Indian solar power business


US-based GIP in talks to buy Engie’s Indian solar power business

American investor Global Infrastructure Partners (GIP) is in talks to buy the Indian solar power business of French energy firm Engie SA in a deal potentially worth around $500 million, a person aware of the development said.

GIP is interested in Engie Solar, which has an 1,100 megawatt (MW) solar portfolio in India, the person said on the condition of anonymity. Of this, 740MW is operational. Rothschild and Co. has been mandated to find a buyer for the assets.

Mint had earlier reported that private equity (PE) fund Actis Llp and Edelweiss Infrastructure Yield Plus Fund were in talks to buy the French firm’s Indian solar power business. Read more

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