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Adani eyes SunEdison’s Indian solar assets: Jayant Parimal

Gautam Adani-led Adani Group’s renewable energy unit is looking at a proposal from merchant bankers appointed by SunEdison Inc. to acquire a stake in the latter’s solar power assets in India, a top company official said.Adani Green Energy Ltd, the group’s solar unit, has received a proposal and is evaluating the same, chief executive officer Jayant Parimal said in Mumbai on Friday.SunEdison’s India unit is in talks with several investors to attract investment in its projects after the US-based renewable energy giant filed for Chapter 11 bankruptcy protection in its home market, Mint reported on 22 April.“We are seeing interest from several large private investors as well as strategics,” Pashupathy Gopalan, president, Asia Pacific, at SunEdison, told Mint on Friday.

SunEdison has built 700 megawatt (MW) of solar capacity in India till date and has about 1.7 gigawatt (GW) of yet-to-be-constructed projects. The company is in need of equity for completing the committed projects in India.SunEdison has appointed Rothschild as its banker to find potential equity partners for its India projects and has approached multiple potential buyers including overseas financial buyers, people familiar with the matter told Mint. In a reverse auction in November, SunEdison had won a 500MW solar project tender at a then record-low tariff of Rs.4.63 per kWh (kilowatt-hour).&