Prozeal to sell 100 MW Gujarat solar asset to French IPP
Prozeal Green Energy has signed a framework agreement with a France-based independent power producer to sell a 100 MWac solar project in Gujarat for about Rs 4.6 billion. The project is expected to start operations in 2027, with the deal closing after commercial operation and subject to definitive agreements. Prozeal will continue providing EPC and long-term O&M services after the divestment.
Prozeal Green Energy has agreed in principle to transfer a 100 MWac solar installation in Gujarat to a France-based independent power producer. The consideration is roughly Rs 4.6 billion, and the plant is slated to begin generating in 2027.
Completion depends on the asset reaching commercial operation, satisfying contractual conditions, and final agreements being signed. Prozeal would remain involved through engineering, procurement, construction, and long-term operations and maintenance. Separately, in June 2026, it received an ONGC award for 250 MW of captive wind projects linked to interstate transmission.
The sale may affect Gujarat's clean-energy supply and local employment as the project moves toward 2027 operation. French investor participation could bring capital, while Prozeal's continued EPC and O&M roles may preserve technical jobs and skills. Electricity users and nearby communities could benefit from added solar capacity, though outcomes depend on execution and final deal terms.