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Azure halts search for partner in solar project
Mint Mumbai
|August 25, 2025
Non-binding offers had been submitted for up to 50% of 950MW portfolio
Renewable energy company Azure Power Global Ltd has put on hold its search for a joint venture partner for its 950 megawatt (MW) solar power portfolio in Rajasthan, said two people aware of the development.
Non-binding offers had been submitted for up to 50% stake in Azure Power's projects at Bhadla in a proposed deal with an enterprise value of ₹4,100 crore and an equity value of ₹1,000 crore, according to these people, who declined to be identified. "The transaction has been put on hold," one of them said. Mint couldn't ascertain the names of the companies that submitted the non-binding offers.
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