First Solar Rubbishes 200 MW India Asset sale Report

It is not our policy to comment on market rumours or speculation: First solar

Leading global provider of comprehensive photovoltaic (PV) solar systems, First Solar rubbishes the report which states that the company is exploring sale of almost 200MW of its solar power assets in India.  The company termed the entire report as speculation and rumour.

When Saur Energy International reached out to First Solar to verify the report, the spokesperson of the company in an email response said that “it is not our policy to comment on market rumours or speculation.”

When asked about if the sale of assets in India as part of the strategy that First Solar follows in other geographies? The company said First Solar is not an independent power producer (IPP) but a developer. We create assets by bringing in the initial equity as risk capital.  At completion of development and commissioning, the asset is ideally de-risked from financing, construction and development risks.  As we do so globally, with our portfolio, In India too, at an appropriate timeframe, we would plan to divest our equity to investors who are looking for annuity type, risk-free returns. The renewables segment is ideally suited for such a model to recycle capital and build more capacities. The development business is all about recycling capital, thus with this model we can continue to keep building assets here in India.