RattanIndia Group sells solar assets to GIP for Rs 16.70 billion

RattanIndia Group has sold its solar plants with a combined capacity of 306 MW to Global Infrastructure Partners (GIP) for about Rs 16.70 billion.

RattanIndia Group’s solar assets portfolio of 306 MW comprises ground mounted solar assets of 297 MW in Karnataka (Pavagada), Maharashtra (Katol), Rajasthan (Bhadla) and Uttar Pradesh (Allahabad and Bareilly) and 9 MW rooftop solar projects across 10 cities. The average tariff of its solar projects is Rs 4.50 per unit. GIP is one of the world’s largest infrastructure investment managers with over USD 51 billion of assets under management globally.

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