Macquarie pursuing sale of 450-MW solar portfolio in India - report

Macquarie Asset Management is looking to sell a 450-MW portfolio of solar projects in India in a deal with an equity value of some USD 250 million (EUR 235.1m), The Mint reports.

The asset manager of Aussie financial services giant Macquarie Group Ltd (ASX:MQG) has hired Bank of America (BofA) to help it with the divestment, sources familiar with the matter have said, adding that the sale is expected to start “soon.”

According to the insiders, the sale process could be coupled with the disposal of a 330-MW bundle of operational solar parks in India that Macquarie 330 MW bought from Hindustan Powerprojects Pvt Ltd back in 2017 and has been keen on selling for almost two years now. Most of those plants are selling their output to state-owned power distribution companies in Gujarat.

Macquarie Asset Management and its managed funds oversee investments in 16 GW of green generation capacity globally, its website shows.

(USD 1.0 = EUR 0.940)

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