Source:paris50degres.fr
The portfolio consists of four projects including Amrit, Kapeli, Bhada and Pavagada. Fortnum acquired the first of them in 2013, and the last one was commissioned by the company in 2017. The four projects have generating capacities of 5 MW, 10 MW, 70 MW and 100 MW, respectively, and Fortnum expects to generate "some profits" from their sale , but did not provide numerical data on these earnings.
The news concerns Gentari's latest investment in clean energy, adding to its portfolio of renewable energy projects with a total capacity of 2.9 GW, of which 1.9 GW are located in India. Last year, the company bought Australian solar and energy storage developer Wirsol Energy, adding 422MW of new generation capacity to its portfolio as it plans to expand its operational renewable energy portfolio to 30-40GW by 2030.
These deals come amid growing interest in the broader Indian solar sector, with Indian developers adding a record 6.2 GW of new solar capacity in the country in March this year, after adding 15 GW of new capacity in the previous 12 months. Solar power is likely to be a key component of India's decarbonization initiative, with government data showing that solar power accounted for 49.1% of all renewable capacity additions in the country in 2021-22, more than any other single technology.
