Macquarie to acquire solar power assets of Hindustan Powerprojects in $600 million deal

Australia-based Macquarie Group has agreed to buy 330 MW of operational solar assets from Hindustan Powerprojects Private Limited. The deal has a total value of $660 million. The proposed deal will facilitate the Macquarie Group’s entry into India’s renewable energy sector. The Macquarie Asia Infrastructure Fund will hold a 100 per cent stake in these assets. Of the $600 million deal value, $250 million is the equity value and about $350 million is the debt associated with the projects. Reportedly, the deal is in an advanced stage of completion and an agreement has been signed.