IL&FS Energy looks to buy 150 MW solar assets

IL&FS Energy Development Company is looking at acquiring close to 150 MW of solar assets. The company has initially zeroed in on nine projects to help it get there. The decision to buy solar assets comes close on the heels of the company selling its 40 MW solar asset in MP to IDFC Alternatives. The company is in the process of conducting due diligence of the nine targeted assets. Some of the projects in the market that are up for sale include First Solar’s 50 MW capacity, Ganesh Jewellery’s 20 MW, Waree Energy’s 40 MW, Jackson Power’s 30 MW, Equis Solar’s 260 MW and ACME’s 250 MW, sources said. This could not be independently verified, according to sources.