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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.

Related News

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.

ACME Sun Power gets ₹3,753-crore loan from REC for wind, solar power projects | Company Business News

Livemint

Livemint · 8m ago

ACME Sun Power gets ₹3,753-crore loan from REC for wind, solar power projects | Company Business News

ACME Sun Power, a subsidiary of ACME Solar Holdings, has secured INR 3,753 crore ($507 million) in term loan from REC Ltd for the development of renewable energy projects with a total capacity of 320 MW. The projects will be located in Rajasthan and Gujarat and will include solar and wind power sites. ACME Solar aims to contribute to India's renewable energy goals and has a total operational capacity of 1,340 MW, with an additional 3,250 MW under construction.

ACME Sikar Solar inks pact to supply electricity from 300MW project in Rajasthan

Economic Times

Economic Times · 1m ago

ACME Sikar Solar inks pact to supply electricity from 300MW project in Rajasthan

ACME Sikar Solar, a subsidiary of ACME Solar Holdings, has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India for a 300MW solar project in Rajasthan at Rs 3.05 per kWh. Commissioned on June 23, the project will supply power by June 30, 2025, and qualifies for ISTS charge waivers. ACME Solar's PPA-signed portfolio is 5,130 MW, with 2,890 MW operational and 4,080 MW in various implementation stages.

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.

ACME Solar inks pact to supply 250 MW electricity from RE project in Rajasthan

Economic Times

Economic Times · 1m ago

ACME Solar inks pact to supply 250 MW electricity from RE project in Rajasthan

ACME Solar Holdings has signed a 25-year power purchase agreement with NHPC to supply 250 MW of renewable electricity from its project in Rajasthan. This agreement supports India's clean energy goals by utilizing solar, wind, and battery storage. The tariff is set at Rs 4.56 per kWh, with a 40% minimum annual Capacity Utilization Factor. ACME Solar's portfolio totals 6,970 MW, with 86% of its output contracted with central government enterprises.

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.

ReNew in talks with Singapore’s Sembcorp to sell 350 MW solar projects

Livemint

Livemint · 1y ago

ReNew in talks with Singapore’s Sembcorp to sell 350 MW solar projects

NASDAQ-listed ReNew Energy Global is in discussions with Sembcorp Industries to sell 350 MW of solar energy projects in a deal worth around $241 million. This comes after a previous deal for 1.1 GW of solar and wind power assets fell through due to a valuation gap on the wind assets. The current proposed transaction only involves the sale of solar projects. ReNew aims to sell operational clean energy capacity to reinvest in new clean energy assets. Sembcorp aims to have 25 GW of installed capacity by 2028. India's power demand continues to rise, driving several deals in the renewable energy sector.

Hindustan Power gets order to set up 100 MW solar project with 200 MWh energy storage system

Economic Times

Economic Times · 1m ago

Hindustan Power gets order to set up 100 MW solar project with 200 MWh energy storage system

Hindustan Power has secured a project from SJVN to establish a 100 MW solar plant with a 200 MWh energy storage system. The project, part of a 1200 MW solar initiative, was won through competitive bidding and an e-reverse auction. It aims to manage peak power demands and provide a steady power supply by integrating solar energy with battery storage. Hindustan Power is a leader in renewable energy generation in India.

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

Livemint

Livemint · 7m 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.

Enel India deal on the final stretch

Livemint

Livemint · 7m ago

Enel India deal on the final stretch

JSW Group, Stonepeak Infrastructure Partners, and Waaree Energies have submitted binding bids for Enel Group's renewable energy business in India. The deal is expected to value the portfolio of wind and solar power assets at around $350-400 million, with total debt raising the enterprise value to over $500-550 million. Enel Green Power India has 760 MW of operational wind and solar power assets, with another 2 GW in development pipeline, making it an attractive opportunity for investors. The deal is anticipated to be finalized by the end of the financial year in March 2025.

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