Vector Green Energy, formed from IDFC Alternatives’ India Infrastructure Fund II, has acquired a 40 MW solar project in Madhya Pradesh from IL&FS, according to a partner at IDFC Alternatives. In January this year, Vector Green completed refinancing of two of these PV projects in Telangana. The project, which is located on the outskirts of Bhopal, will be operational by mid-2018, said the company. He said he is more interested in cash flow than growth, and wants to diversify into different states. The acquisition marks the first time IDFC has bought into a power purchase agreement with off-taker Solar Energy Corporation of India.
Vector Green Energy, formed from IDFC Alternatives’ India Infrastructure Fund II, has acquired a 40 MW solar project in Madhya Pradesh from IL&FS, according to a partner at IDFC Alternatives. The project, which is located on the outskirts of Bhopal, will be operational by mid-2018, said the company. He said he is more interested in cash flow than growth, and wants to diversify into different states. The acquisition marks the first time IDFC has bought into a power purchase agreement with off-taker Solar Energy Corporation of India.