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Edelweiss Looks to Exit Solar JV with Engie, Taps StanChart for Sale of 74% Stake

Edelweiss Infrastructure Yield Plus (EIYP), managed by the Edelweiss Group, is planning to exit its solar joint venture with French utility Engie by selling its 74% stake in a 1.2 GW solar platform. Standard Chartered Bank has been appointed to manage the sale process, and early discussions are underway with potential buyers, including public sector energy firms.

EIYP originally acquired the stake in 2021 for $550 million, gaining access to 12 operational solar assets totaling 813 MW and a development pipeline of 2 GW. Since then, the platform’s capacity has grown to just 1.2 GW, and the portfolio is now estimated to be valued at under $1 billion. The reason for the early exit—prior to full pipeline completion—is unclear.

The exit aligns with EIYP’s strategy of investing in high-yield operational infrastructure assets. However, investor interest in renewable energy asset sales has declined compared to the previous fiscal year, which saw major deals like ONGC NTPC Green acquiring Ayana Renewable Power and JSW Energy buying O2 Power’s portfolio. Engie had previously noted that the 2021 transaction helped it reduce net debt by $400 million.