Actis' BluPine snaps up 404-MWp Indian solar portfolio from Atha

Nov 24, 2022 11:44 AM ET
  • BluPine Energy, a portfolio business of exclusive equity company Actis, has actually finalised the procurement of the 404-MWp operational solar portfolio of Indian miner Atha Group, the parent company claimed on Thursday.
Actis' BluPine snaps up 404-MWp Indian solar portfolio from Atha
Image: ThomasLloyd Group

The value of the transaction was kept under wraps. According to earlier media reports, Actis has paid INR 21 billion (USD 257.2 m/EUR 246.9 m) for the purchase.

The freshly gotten solar parks will certainly be added to BluPine's portfolio and will certainly become its seed assets. The business was introduced previously in 2022 to develop utility-scale wind and solar projects, aiming to develop a fleet of around 4 GW over the following four-five years.

Actis is poised to pour approximately USD 800 million (EUR 768m) in BluPine via its Energy 5 Fund, the personal equity firm said.

"Along with growing our renewable energy abilities, it positions us well to satisfy our aggressive development goals in accordance with our organization strategy, as well as to be a key player in India's clean energy shift," stated Neerav Nanavaty, Chief Executive Officer at BluPine.

Actis noted it has actually thus far invested in over 70 renewable energy projects internationally amounting to 12 GW and also looks for to instill money in an added 12.5 GW.

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