GIP to buy solar portfolio of RattanIndia

GIP to buy solar portfolio of Rattan Power India.

Leading infrastructure investor Global Infrastructure Partners (GIP) is in advanced negotiations to buy the solar portfolio of RattanIndia Power Ltd (formerly India Bulls Power) for an enterprise value of about $300 million (Rs 2,000 crore) as per reports. RattanIndia has a projects portfolio of more than 300 MW. These include both ground mounted solar projects and rooftop solar panels. While 154 MW of ground mounted solar plants are under development. The 116 MW capacity is already operational. GIP made its entry into India last year by acquiring infrastructure asset management business of multi-asset manager IDFC Alternatives Ltd. Besides RattanIndia assets, the NY-based GIP is also seeking to acquire the 810 MW renewable energy portfolio of French major Engie in India.

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