IndiGrid acquires 100 MW solar assets of FRV in Rs 6.6 billion deal

IndiGrid has acquired the solar portfolio of Madrid-based Fotowatio Renewable Ventures (FRV) in a deal worth Rs 6.6 billion (nearly $90 million) at current exchange rates. IndiGrid has signed a purchase agreement with FRV Solar Holdings for the acquisition of 100 per cent stake in FRV Andhra Pradesh Solar Farm I and FRV India Solar Park II. FRV I and II each operate a 50 MW (AC) solar power plant in the Ananthapuramu Solar Park. The acquisition will depend upon the receipt of relevant approvals and completion of contractual obligations.