IDFC Alternatives looking to buy First Solar’s 200 MW assets in India for $200 million: Report

IDFC Alternatives looking to buy First Solar’s 200 MW assets in India for $200 million: Report

First Solar

IDFC Alternatives is interested in acquiring First Solar’s 200 MW power generation assets price valued at around Rs 200 million.

IDFC is reportedly in talk with First Solar to buy its 200 MW worth of renewable energy assets in India.

Live Mint citing close sources to the development reports that IDFC Alternatives is interested in acquiring First Solar’s 200 MW power generation assets price valued at around Rs 200 million.

Leading global provider of comprehensive photovoltaic (PV) solar systems, First Solar considers the country as its second-largest market after the US in terms of total shipments. However, decision to sell its assets seems to have come in the backdrop of falling solar power tariffs because of tumbling prices of solar modules, which is expected to drop further this year.

Recently when we reached out to the company to know if the sale of assets in India as part of the strategy that First Solar follows in other geographies? The company said First Solar is not an independent power producer (IPP) but a developer. We create assets by bringing in the initial equity as risk capital.  At completion of development and commissioning, the asset is ideally de-risked from financing, construction and development risks.  As we do so globally, with our portfolio, In India too, at an appropriate timeframe, we would plan to divest our equity to investors who are looking for annuity type, risk-free returns. The renewables segment is ideally suited for such a model to recycle capital and build more capacities. The development business is all about recycling capital, thus with this model we can continue to keep building assets here in India.

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