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.

Related Stories

Gold Stories

Next Story
Real Estate

L&T Wins Mega Order for India’s Largest NVIDIA B300 AI Factory

Larsen & Toubro (L&T), through Vyoma.AI’s AI infrastructure subsidiary LTN Compute, has secured a mega order to develop what the company describes as India’s largest single-cluster AI infrastructure facility. The NVIDIA B300 AI Factory will support US-based AI cloud company Together AI’s platform for large-scale inference, fine-tuning and training workloads.The integrated AI Factory will be hosted at Vyoma.AI’s Chennai data centre campus and will have a capacity of 10,000 NVIDIA B300 GPUs. The platform will combine hyperscale data centre infrastructure, accelerated computing, h..

Next Story
Infrastructure Urban

Autodesk Elevates Nikhil Bagalkotkar to Lead AEC in India, SAARC

Autodesk has elevated Nikhil Bagalkotkar as Head – Architecture, Engineering and Construction (AEC), India and SAARC, with immediate effect.In his new role, Bagalkotkar will lead Autodesk's AEC business strategy across the region and drive adoption of the company's Design and Make platform. He will also focus on promoting digital design and construction technologies to help customers accelerate innovation and deliver more sustainable and resilient infrastructure.Bagalkotkar will be responsible for expanding Autodesk's AEC business, strengthening customer and partner engagement, and accelerat..

Next Story
Real Estate

Listed Developers' Pre-Sales Seen Rising 22.3 Per Cent in FY27

India's leading listed residential developers are expected to sustain strong sales momentum in FY27, with combined pre-sales of 11 major players projected to rise 22.3 per cent year-on-year, according to an analysis by ANAROCK Research & Advisory.Combined pre-sales of the developers are estimated to increase from Rs 1.49 trillion in FY26 to Rs 1.82 lakh crore in FY27. ANAROCK attributed the growth to sustained end-user demand, new project launches and strong execution despite higher property prices, construction costs and global uncertainties.Dr Prashant Thakur, Executive Director and Head..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement