Thin-film module manufacturer First Solar is reportedly in talks to sell a 45 megawatt photovoltaic plant portfolio in Karnataka, India, for around INR3 billion ($43 million).
An anonymous source with knowledge of the transaction told Mint that the company has begun engaging with prospective buyers and has been in contact with financial and strategic investors. A banker has not been appointed and the firm is planning to manage the transaction on its own.
This would be the company’s second solar asset sale in India, following its sale of seven solar projects totaling 190 megawatts to IDFC Alternatives in 2017 for an estimated INR1.9 billion ($300 million).
First Solar has shipped more than 20 gigawatts of modules worldwide and recorded $532 million in net sales as of March 31.
