Actis, the global infrastructure investment firm, will acquired 500 MW Indian assets of Finland-based solar power producer Fortum.
Fortum has inked an agreement to divest 250 MW Pavagada-II and the 250 MW Rajasthan solar power plants in India.
The total consideration from the divestment on a debt and cash-free basis, including the effect of deconsolidating of the net debt, is expected to be approximately EUR 280 million (USD 333 million).
The divestment will be completed and the capital gain recorded in three tranches during H2/2021 and H1/2022.
The parties have also signed a comprehensive agreement targeting further investments in solar power plants in India.