#1 most loved electric vehicle, solar, & battery news & analysis site in the world. Support our work today!

Green Economy no image

Published on October 30th, 2017 | by Saurabh


Macquarie Plans Entry Into India Solar Power Market

October 30th, 2017 by  

After investments in India’s thermal power market, Macquarie Asia Infrastructure Fund (MAIF) is now planning entry into India’s rapidly growing solar power market.

According to media reports, Hindustan Powerprojects Limited is planning to sell off some of its solar power assets to MAIF as the former looks to expand its solar base globally. Hindustan Powerprojects confirmed the development to an Indian business daily.

Hindustan Powerprojects has less than 300 megawatts of operational solar power capacity in India with an additional 150-200 megawatts under construction. The company is reportedly looking to sell off around half of the operational capacity to MAIF.

This is yet another instance of Indian developers looking to sell equity stake or entire assets to interested buyers to raise funds for further capacity expansion. In this case, Hindustan Powerprojects already has a substantial footprint in developed markets like the United Kingdom, Germany, Italy, and Japan. These international markets will now be the focus of the country as competition in the Indian market has increased substantially. The company has set a target for 2 gigawatts of operational capacity in overseas markets by 2022.

Through this acquisition Macquarie will make an entry into the Indian solar power market. The advantage that Macquarie would get from Hindustan Powerprojects is that the company was among the first entrants in the Indian solar power market.

The company commissioned India’s first utility-scale solar power project even before the National Solar Mission was announced in 2010. Solar power tariffs at that time were as high as Rs 17.91/kWh (27¢/kWh). It also has projects in Gujarat, again with substantially high tariffs compared to the current tariffs.

It is, however, unclear which projects Hindustan Powerprojects will sell to MAIF under the proposed transaction. Still, with power projects tied up with state and central government-owned companies, the revenue is somewhat assured for the next 20-25 years.



Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon.

Sign up for our free daily newsletter or weekly newsletter to never miss a story.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Latest Cleantech Talk Episode

Tags: , , , ,

About the Author

An avid follower of latest developments in the Indian renewable energy sector.

Back to Top ↑