+
BluPine buys Acme solar assets
POWER & RENEWABLE ENERGY

BluPine buys Acme solar assets

A unit of London-based private equity firm Actis, BluPine Energy, has bought solar power assets from Acme group for an enterprise value of Rs 1,700 crore. The acquired assets are housed in 14 special purpose vehicles.

The acquisition will add 312 megawatts of solar capacity to BluPine Energy, which was incorporated in 2021, the people said. BluPine has rapidly expanded capacities through acquisitions and currently has a renewable capacity of 1.8 gigawatts.

In November last year, the company announced the acquisition of solar projects of 400 megawatts capacity from Atha Group.

Actis, which has $12.73 billion in assets under management, had previously announced plans to invest $800 million (Rs 6,666 crore) in BluPine Energy and ramp up the capacity to 4 gigawatts eventually. A substantial part of this growth could come from acquisitions, said people aware of the matter.

On its part, Actis had successfully built and divested two renewable energy companies in India, namely, Ostro Energy and Sprng Energy. It sold Ostro Energy to ReNew Power in 2018 for $1.63 billion, and subsequently sold Sprng Energy to Shell for $1.55 billion last year.

A unit of London-based private equity firm Actis, BluPine Energy, has bought solar power assets from Acme group for an enterprise value of Rs 1,700 crore. The acquired assets are housed in 14 special purpose vehicles. The acquisition will add 312 megawatts of solar capacity to BluPine Energy, which was incorporated in 2021, the people said. BluPine has rapidly expanded capacities through acquisitions and currently has a renewable capacity of 1.8 gigawatts. In November last year, the company announced the acquisition of solar projects of 400 megawatts capacity from Atha Group. Actis, which has $12.73 billion in assets under management, had previously announced plans to invest $800 million (Rs 6,666 crore) in BluPine Energy and ramp up the capacity to 4 gigawatts eventually. A substantial part of this growth could come from acquisitions, said people aware of the matter. On its part, Actis had successfully built and divested two renewable energy companies in India, namely, Ostro Energy and Sprng Energy. It sold Ostro Energy to ReNew Power in 2018 for $1.63 billion, and subsequently sold Sprng Energy to Shell for $1.55 billion last year.

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?