The Essel Group is reportedly in talks with the Adani Group to sell a 480 MW portfolio of solar assets to Adani Green Energy and avert loan defaults, according to anonymous insiders. It follows the August sale of Essel Infraprojects' 205 MW of assets to the group for INR1.3bn ($1.8m), at an average power purchase price of INR5.50/kWh. Essel is said to be investing INR200bn to ensure the 480 MW is operational. Currently, half the portfolio is 70% finished while the rest is 90% complete, the insiders said.
The Essel Group is reportedly in talks with the Adani Group to sell a 480 MW portfolio of solar assets to Adani Green Energy and avert loan defaults, according to anonymous insiders. It follows the August sale of Essel Infraprojects' 205 MW of assets to the group for INR1.3bn ($1.8m), at an average power purchase price of INR5.50/kWh. Essel is said to be investing INR200bn to ensure the 480 MW is operational. Currently, half the portfolio is 90% finished while the rest is 70% complete, the insiders said.