Prozeal to Transfer 100 MW Gujarat Solar Asset to European Power Producer
What Happened
Prozeal Green Energy has signed a framework agreement to hand over a 100 MW solar project in Gujarat to a European independent power producer (IPP) in a deal valued at about ₹460 crore. The proposed transaction is subject to regulatory and other necessary approvals. The project is currently scheduled to become operational in 2027.
Key Takeaways
The deal highlights growing foreign interest in India's renewable energy sector. Manan Thakkar, Co-founder and Managing Director of Prozeal Green Energy, said the partnership is aimed at meeting rising demand for renewable energy solutions in India's commercial and industrial segments.