US-based First Solar in talks to sell 45MW of solar assets in India

American solar panel maker First Solar is exploring a potential sale of around 45 megawatts (MW) of its solar power assets in India, two people aware of the development said. First Solar is a leading global provider of photovoltaic (PV) solar systems and has supplied solar panels worth over 20 gigawatts (GW), according to the company’s website. The company reported a revenue of $2.2 billion in 2018. “First Solar has started engaging with prospective buyers for sale of its solar assets of 45MW. These assets are located in the state of Karnataka. They haven’t appointed a banker to manage the process and are doing it on their own. They are reaching out to both financial and strategic investors," said the first person cited above, requesting anonymity as the talks are private. A second person aware of the talks added that the sale could fetch an enterprise valuation of around ₹300 crore. He too spoke on the condition of anonymity.

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