Prozeal Green Energy has entered into a Framework Agreement with a European independent power producer (IPP) for the proposed divestment of a 100 MW AC solar project in Gujarat, at a transaction value of approximately ₹4,600 million (₹460 crore).
The agreement reflects Prozeal’s efforts to contribute to India’s renewable energy transition and pursue international collaborations. The company has an ongoing independent power producer portfolio of 500 MW scheduled for commissioning by March 2027.
The proposed transaction remains subject to compliance with the agreement’s terms and conditions and the execution of definitive transaction agreements. It is expected to be completed once the project reaches commercial operation, which is currently scheduled for 2027.
Prozeal is expected to provide engineering, procurement and construction (EPC) services and manage long-term operations and maintenance (O&M).
Prozeal’s responsibilities draw on its technical experience executing renewable energy projects across 22 Indian states. Its portfolio includes solar, wind-solar hybrid projects with battery energy storage systems (BESS), and green hydrogen, ammonia and other derivatives.
The European IPP is a France-based multi-energy group operating across the renewable energy value chain. Through the proposed acquisition, the group is expanding its investments and presence in India’s solar sector.
The transaction reflects continued investment in India’s renewable energy sector and the role of international partnerships in supporting its growth. By combining the European partner’s portfolio with Prozeal’s operational expertise, both companies intend to strengthen grid stability and support India’s transition to a low-carbon energy system.
