(ET)
The Essel Group is in talks to sell its solar energy portfolio and US-based luxury wellness destination YO1 Centre, as part of ongoing efforts at the Subhash Chandra-led conglomerate to raise money to reduce debt. Essel Infraprojects, people in the know said, is in an advanced stage of talks with the Adani Group’s renewable energy company, Adani Green Energy, to sell part of its 300 megawatt of operational solar energy portfolio for around Rs 3,000 crore.
This is not the first time the group is trying to sell the solar assets. The Essel Group, which had put its infrastructureNSE 0.00 % business on the block early last year, had entered into an agreement with private equity investor Actis to sell the entire solar energy portfolio of 685 MW of installed and under-construction projects for around Rs 4,700 crore. The deal, however, got scrapped earlier this year.
