EdelweissBSE 0.99 % Group and Hero Future Energies are scouting for solar assets close to 190 MW project capacity of Kolkata-based Atha Group, sources closely associated with the developments said.
This comes amid an increasing trend of consolidation activity in India’s renewable energy space. “Edelweiss is considering acquiring Atha Group’s solar assets through its infrastructure fund. Hero Future Energies is also in the race,” said a source.
Edelweiss Group recently set up a $1-billion infrastructure-focussed fund to invest in infrastructure and renewable energy projects.
Sources said the two companies are eyeing assets of Atha Group’s renewable energy arm AMPL Cleantech. These include eight solar assets across various locations including Rajasthan, Karnataka, Maharashtra, Telangana and Madhya Pradesh up for evaluation, another source said.
