French renewable energy company Technique Solaire Group has successfully concluded the acquisition of five ground-mounted solar farms in the Indian state of Karnataka, with a combined capacity of 135.4 MWp. The independent power producer (IPP) purchased the portfolio from ReNew Solar Power Pvt Ltd, a subsidiary of Indian renewables firm ReNew Energy Global Plc.
The solar farms, commissioned in October and November 2019, generate approximately 215 GWh of electricity annually and benefit from a secure tariff through long-term power purchase agreements (PPAs) with various electricity and gas distribution companies in Karnataka.
This acquisition elevates Technique Solaire's operational capacity in India to 210 MWp, and the French IPP aims to exceed 350 MWp by the end of 2025. The move follows Technique Solaire's recent announcement of securing EUR 200 million (USD 218.6 million) to support its expansion plans both domestically and internationally.
Manu Bishnoi, Technique Solaire's Managing Director in India, highlighted the significance of the acquisition, emphasizing the company's ability to successfully conclude M&A deals exceeding 100 MW in India. Technique Solaire positions India as its second most important geography after France, solidifying its standing among the top three French solar companies in the market.
