RENEWABLE ENERGY

UK-based private investor Actis acquires 400 MW solar projects from Acme

UK based private investor Actis acquired 400 MW solar power projects of ACME Solar Holdings ltd. The projects are located in Andhra Pradesh and Madhya Pradesh. Both Acme and Actis did not disclose the deal size. Market experts estimated the deal value to be close to Rs 2,000 crore.

In a public statement, Actis said the investment in Indian renewables through Actis Long Life Infrastructure Fund (ALLIF) and Actis Energy Funds. ALLIF’s investment strategy targets large operating renewable assets for the long-term, maximising yield through value creation, the company said.

Actis’ recent investments through its Energy Funds include Ostro Energy which was sold in 2018 in one of the largest renewable energy deals in India and Sprng Energy which currently has 648 MW of operating assets and a further pipeline of 1100 MW which are in various stages of execution.

Sanjiv Aggarwal, Partner (energy and infrastructure), Actis said “India is one of the fastest growing solar markets in the world and the Government’s commitment to increasing renewable energy production continues to create attractive investment opportunities for our ALLIF and Energy funds. We will continue to focus on M&A and PPA auctions in India.”

Source
business standard
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