Malaysia's Yinson buys into 140-MW package of Indian solar parks

Apr 2, 2020 05:09 PM ET

Malaysia's Yinson Holdings Bhd (KLSE: YINSON) has actually consented to get a 37.5% risk in the proprietor of a 140-MW profile of solar parks in India.

Malaysia's Yinson buys into 140-MW package of Indian solar parks — Image: Yinson Holdings Berhad

Under numerous arrangements, Yinson has actually acquired the minority shareholding in India-based Rising Sun Energy Pvt Ltd for INR 554 million (USD 7.3 m/EUR 6.6 m), the Malaysian company stated previously today. It will certainly additionally give some INR 600 million to settle specific arrearage of Rising Sun Energy.

The certain profile consists of 2 photovoltaic (PV) parks situated within the Bhadla solar facility in Rajasthan. They were brought online in 2017 as well as run under 25-year power acquisition arrangements (PPAs) with residential utility NTPC Ltd (BOM:532555). The offtake offers stand up until 2042.

The offer, accomplished via Yinson Renewables Pte Ltd, notes the Malaysian firm's access right into the renewables field, its CEO Lim Chern Yuan stated. Yinson Holdings established its renewables subsidiary in 2019.

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