MUMBAI : Sale of solar assets of Mahindra Susten, the renewable business arm of Mahindra group, to CLP India Pvt Ltd has been delayed on account of the recent FDI policy changes that aim to restrict investments from India's neighbouring countries including China, said two people aware of the development.
In February, Mahindra Susten had entered into an agreement to sell three solar projects to CLP India, a part of Hong Kong based CLP Holdings Ltd., for an equity value of ₹340 crore.
The transaction included the sale of three projects - Cleansolar Renewable Energy Pvt Ltd, Divine Solren Pvt Ltd and Neo Solren Pvt Ltd.