Hero Future has entered talks with Fotowatio Renewable Ventures (FRV) to acquire a 135 MW solar project in India Pradesh, which is the Saudi clean energy utility's only Indian solar investment. The sale is being managed by investment bank Greenstone Energy Advisors. FRV had won the project in an auction run by the Solar Energy Corporation of India, securing a tariff of INR4.43 ($0.062) per unit. That is well above the lowest ever tariff of INR2.44 per unit first quoted in May 2017.
Hero Future has entered talks with Fotowatio Renewable Ventures (FRV) to acquire a 135 MW solar project in Andhra Pradesh, which is the Saudi clean energy utility's only Indian solar investment. The sale is being managed by investment bank Greenstone Energy Advisors. FRV had won the project in an auction run by the Solar Energy Corporation of India, securing a tariff of INR4.43 ($0.062) per unit. That is well above the lowest ever tariff of INR2.44 per unit first quoted in May 2017.