EverSource Capital-backed Radiance Renewables to acquire a non-core solar rooftop portfolio of Azure Power for $73m.

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.