Prozeal Green Energy has signed a framework agreement with a European independent power producer (IPP) for the proposed divestment of a 100 MW AC solar project in Gujarat, valued at approximately ₹460 crore.
The transaction is expected to be completed once the project achieves commercial operation, subject to the fulfilment of contractual conditions and execution of definitive agreements. The project is scheduled to become operational in 2027.
As part of the proposed arrangement, Prozeal Green Energy is expected to continue providing Engineering, Procurement and Construction (EPC) services and long-term Operations and Maintenance (O&M) for the project.
The company currently has an ongoing independent power producer portfolio of 500 MW targeted for commissioning by March 2027. The partnership also reflects growing international interest in India’s renewable energy sector and the increasing demand for clean energy solutions among commercial and industrial consumers.
The European IPP, a France-based multi-energy group, is expanding its presence in India’s solar market through the proposed acquisition.
The transaction highlights the role of international partnerships in accelerating renewable energy deployment and supporting India’s clean energy transition.
Source: Energetica India
