June 8, 2018 / 7:21 AM / in 12 days

UK Climate Investments buys interest in Indian solar portfolio

LONDON, June 8 (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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