Hong Kong’s CLP Group, the largest overseas investor in power in India, wants a piece of the country’s solar energy action.
CLP (formerly China Light & Power), is finalising its solar debut through an acquisition. It’s local arm is in advanced negotiations to buy stakes in a 100 MW solar park project in Telengana from Suzlon Energy, according to people in the know. The diversification of CLP India’s clean energy portfolio comes after the company established itself as the leading wind power generator in the country with almost a gigawatt of operating assets. If the deal goes through–a formal announcement is expected in a few days barring hiccups–it will give a big boost to the domestic solar power industry, underscoring global interest even in secondary market brownfield or even greenfield growth opportunities. An estimated 10,000 MW of solar and wind projects are believed to be on the block, seeking equity investments to the tune of Rs 20,000 crore, according to sector experts.