June 8, 2018 / 7:22 AM / 8 months ago

UK Climate Investments buys interest in Indian solar portfolio

LONDON (Reuters) -

UK Climate Investments, a joint venture between the Green Investment Group and the UK government’s Department for Energy and Climate Change, will acquire a 40 percent interest in a 185 megawatt portfolio of solar assets in India, it said on Friday.

Finnish energy company Fortum will retain a 46 percent interest in the solar farms and continue to operate and maintain them.

Asset management firm Elite Alfred Berg has entered into an agreement to buy the remaining 14 percent.

It is expected that the transaction will reach financial close in the third quarter of 2018.

Reporting by Nina Chestney; Editing by Mark Potter

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