IDFC to Buy First Solar’s Assets in India

Chennai, India-based IDFC Alternatives, the asset management arm of the infrastructure-focused lender, is in talks to buy Arizona-based First Solar’s 200 megawatts of renewable power assets in India in a deal potentially valued at around $200 million.

Logo of IDFC Limited

Livemint reports that First Solar is one of the first overseas companies to enter India’s solar energy market, and it considers the country as its second-largest market after the U.S. in terms of total shipments. The Indian solar power generation space is getting intensely competitive, as India plans to generate 175 gigawatts of renewable energy capacity by 2022. Of this, 100GW will be from solar power projects.

In a report dated March 20, the New Delhi-based consulting firm Bridge to India said, “The country added 5,526MW of new solar capacity (up 83% over Fiscal Year 2015-16) and 5,400 MW of new wind capacity (up 63%) in the year.”

 

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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