Announced
Financials
Tags
Pending
Single Bidder
Renewable Energy Equipment
Domestic
solar power assets
Majority
Infrastructure
India
Acquisition
Private
Friendly
Private Equity
Synopsis
EverSource Capital-backed Radiance Renewables, a provider of competitive renewable energy solutions, agreed to acquire a non-core solar rooftop portfolio of Azure Power, an independent solar power producer, for $73m. "This sale, the first ever asset sale in Azure Power's history, illustrates the company's commitment to capital discipline. The sale of this non-strategic portfolio allows us to enhance returns on invested capital through efficiency gains and cost optimisation whilst recycling capital into higher return, committed projects. Our focus is on creation of shareholder value," Ranjit Gupta, Azure Power CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.