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Actis-backed Blupine Energy acquires select India assets from Acme Group

VCCircle

VCCircle · 1y ago

Actis-backed Blupine Energy acquires select India assets from Acme Group

BluPine Energy, a renewable energy platform backed by Actis, has acquired 369 MW of solar power assets from Acme Group in India. The deal, worth around $200 million, includes assets located in Uttarakhand, Punjab, and Karnataka. This acquisition will boost BluPine Energy's total renewable capacity to 2.4 GW. BluPine Energy aims to develop a renewable energy portfolio exceeding 4 GW in India. Actis, a proactive investor in India's infrastructure and renewable energy sector, closed deals exceeding $1 billion in 2022 and has raised $24 billion for investment since 2004.

Related News

BluPine Energy acquires 369 MW solar power assets from Acme Group

Thehindubusinessline

Thehindubusinessline · 1y ago

BluPine Energy acquires 369 MW solar power assets from Acme Group

BluPine Energy has acquired 369 MW of solar power assets from the Acme Group, increasing its total renewable energy capacity to 2.4 GW. The assets are spread across 14 special purpose vehicles in Uttarakhand, Punjab, and Karnataka. BluPine Energy plans to further expand its portfolio to 4 GW of solar and wind power, along with hybrid assets and battery energy storage, over the next five years. The company aims to bolster renewable energy capacities in India and assist in meeting renewable purchase obligations. This acquisition solidifies BluPine Energy's position in the country's renewable energy sector.

Investors eye stake buy in BluPine Energy in heated M&A market

Livemint

Livemint · 8m ago

Investors eye stake buy in BluPine Energy in heated M&A market

Investors are showing interest in BluPine Energy, a renewable power platform incorporated in India by Actis Capital. The London-based private equity firm is reportedly considering divestment options after investment bankers approached them with offers. BluPine currently has 2.6 GW of solar and wind energy assets in India, and Actis aims to achieve over 4 GW of renewable energy by 2028. The potential transaction could be valued at around $1 billion. However, Actis denied rumors of exploring divestment, calling the information misleading and incorrect.

BluPine Energy secures Rs 239 crore funding from Tata Capital

Economic Times

Economic Times · 1y ago

BluPine Energy secures Rs 239 crore funding from Tata Capital

Renewable energy services company BluPine Energy has secured Rs 239 crore in financial assistance from Tata Capital. The funds will be used for a solar power project in Chhattisgarh, which is projected to generate 75 megawatts of energy annually and offset over 107,000 tonnes of CO2 emissions. BluPine Energy is backed by Actis, a global investor in sustainable infrastructure companies, while Tata Capital is the non-banking financial arm of the Tata Group.

Actis buys Macquarie’s Stride Climate to expand India green energy portfolio

VCCircle

VCCircle · 5m ago

Actis buys Macquarie’s Stride Climate to expand India green energy portfolio

Actis, a London-based private equity firm focused on sustainable infrastructure, has acquired Stride Climate Investments from Macquarie Asset Management to enhance its renewable energy assets in India. The portfolio includes 371MW of operating solar photovoltaic assets across 21 projects, mainly in Gujarat. Although financial details weren't disclosed, the deal's estimated value is between Rs 1,480-1,850 crore. Stride joins Actis' other Indian energy platforms, BluPine Energy and Athena Renewables, as part of their strategic growth in renewable energy.

Green shoots to greenbacks: Actis eyes BluPine sale

Economic Times

Economic Times · 1m ago

Green shoots to greenbacks: Actis eyes BluPine sale

UK-based private equity firm Actis is contemplating selling its stake in BluPine Energy, a Gurgaon-based renewable energy firm, potentially valuing it at $1.3-1.4 billion. Actis, having already invested $468 million out of a committed $800 million, seeks to de-risk and hasten investment returns. BluPine, with 3 GW in operational and in-progress projects, specializes primarily in solar energy. This move could be Actis's third significant renewable energy exit in India.

Actis-owned BluPine looks to lift investment target in growth drive

VCCircle

VCCircle · 10m ago

Actis-owned BluPine looks to lift investment target in growth drive

- BluPine Energy, the Indian renewable energy platform of Actis, plans to increase its investment target as it aims to reach 4GW installed capacity in the next four-five years. - The company is owned by private equity firm Actis. - BluPine Energy is looking to upscale its investment plans to achieve its growth target. - The renewable energy platform is focused on expanding its presence in India's renewable energy sector. - BluPine Energy aims to contribute to India's clean energy goals by increasing its installed capacity.

BluPine Energy Secures Rs 2,416 Crore Debt for Its FDRE Project

OutlookIndia

OutlookIndia · 2m ago

BluPine Energy Secures Rs 2,416 Crore Debt for Its FDRE Project

BluPine Energy, an Actis-backed renewable energy platform, secured Rs 2,416 crore in debt financing for a 150 MW Firm and Dispatchable Renewable Energy (FDRE) project in Aland, Karnataka. This project, run by Solarcraft Power India 16 Pvt Ltd, is under the SJVN 1,500 MW FDRE tender. Standard Chartered facilitated the transaction as the Mandated Lead Arranger. Scheduled for 2026, it aims to enhance renewable energy availability and reduce CO₂ emissions by 687,043 tonnes.

BluPine Energy to create 4 GW of RE assets in five years

Thehindubusinessline

Thehindubusinessline · 1y ago

BluPine Energy to create 4 GW of RE assets in five years

Renewable power producer BluPine Energy plans to generate 4 gigawatts (GW) of solar and wind power, alongside battery energy storage (BES), in India over the next five years. The company, with backing from infrastructure investor Actis, aims to add both organic and inorganic renewable energy capacity. BluPine has already acquired 400 MW of solar power and is in advanced talks for another 400 MW. It also has projects under development in Gujarat, Rajasthan, and Karnataka, with a total capacity of 1.35 GW. The company aims to focus on commercial and industrial as well as solar and wind power to reach its 4 GW target.

Grapevine: JSW Energy, Lite Bite, BluPine, Table Space, and HDB Financial in news

VCCircle

VCCircle · 8m ago

Grapevine: JSW Energy, Lite Bite, BluPine, Table Space, and HDB Financial in news

JSW Energy is looking to acquire O2 Power, while shareholders of Lite Bite Foods are considering selling a minority stake. Investment bankers have approached Actis with potential offers for BluPine Energy. Table Space has begun project implementation, and HDB Financial Services is planning to raise capital through a public issue.

Actis raises $1.7 bn for infra fund, explores more opportunities in India

VCCircle

VCCircle · 3m ago

Actis raises $1.7 bn for infra fund, explores more opportunities in India

Actis, a private equity firm, has raised $1.7 billion for its second Long Life Infrastructure Fund, focusing on sustainable infrastructure in emerging markets like India. The fund has deployed nearly half its capital, significantly in Indian assets, and is exploring more opportunities in the renewable energy and digital infrastructure sectors. Actis’s strategy prioritizes stable, long-term income and aligns with India's energy demand and clean energy targets, emphasizing infrastructure's scale and resilience.

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