London-based private equity firm Actis Llp has announced the successful acquisition of Kolkata-based Atha Group’s 404MW solar power assets by its portfolio company, BluPine Energy. The deal, valued at around ₹2,100 crore, reinforces Actis’ commitment to driving India’s energy transition and expanding BluPine’s renewable energy capabilities.
Q1: How much is the enterprise value of Atha Group’s solar assets in the deal?
A1: The enterprise value for Atha Group’s 404MW solar assets in the acquisition is approximately ₹2,100 crore.
Q2: What is Actis’ financial commitment to BluPine Energy through its Energy 5 Fund?
A2: Actis has committed to investing up to US$800 million in BluPine through its Energy 5 Fund, representing a total of US$6 billion of investable capital.
Q3: What is BluPine Energy’s strategic focus post-acquisition?
A3: BluPine Energy, as the third clean energy firm by Actis in India, will focus on building wind, solar, and storage capabilities. The goal is to deliver clean, reliable power across India with a core emphasis on sustainability and positive impact.
Q4: How does this acquisition align with Actis’ track record in the renewable energy sector?
A4: Actis highlights its successful track record in building and operating leading Indian renewable Independent Power Producers (IPPs), citing Ostro Energy and Sprng Energy as past examples, both of which became marquee transactions in the industry.
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