India’s IDFC to buy 45 MW of solar projects from Punj Lloyd

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India’s IDFC to buy 45 MW of solar projects from Punj Lloyd

The India infrastructure fund of IDFC Alternatives has purchased three solar projects, totalling 45 MW, in Punjab and Rajasthan (India) from Punj Lloyd.

The acquisition is in concordance with the company plan to establish a renewable portfolio acquiring power assets.

According to sources, IDFC has acquired the three projects for an amount of INR100 million (US$15 million).

This is IDFC’s second investment in the renewable energy market. In October, it acquired a 25 MW wind power plant from Jindal Steel & Power Ltd.

The company wants to establish a renewable energy portfolio in 12 to 18 months through acquisitions with a capacity of 500 to 1,000 MW. It envisages assets with capacity of 250 MW in six months based on solar, wind and hydro energy. 

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