India 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 source at IDFC Alternatives . Aggarwal added: “What you see in India is a lot of people chasing scale in terms of getting 2GW or 3GW. Aditya Aggarwal said : " We are looking at buying up assets and our focus is to return cash to the shareholders right from year one in form of dividends . " 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 .
India 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 source at IDFC Alternatives . Aditya Aggarwal said : " We are looking at buying up assets and our focus is to return cash to the shareholders right from year one in form of dividends . " 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 .