BluPine Energy Enhances Portfolio with Acquisition of 369 MW Solar Assets from ACME Group

BluPine Energy, a prominent Indian renewable energy firm established by the global sustainable infrastructure investor Actis, has significantly expanded its portfolio by acquiring 369 megawatts (MW) of solar energy assets from the Acme Group. This acquisition increases BluPine Energy’s total renewable capacity to an impressive 2.4 gigawatts (GW), underscoring its commitment to enhancing sustainable energy solutions in India.

The deal encompasses solar capacity assets housed within 14 special purpose vehicles located in the states of Uttarakhand, Punjab, and Karnataka. This strategic move is a testament to BluPine Energy’s dedication to playing a pivotal role in India’s rapidly growing renewable energy sector and its vision for a sustainable future.

Neerav Nanavaty, CEO of BluPine Energy, expressed enthusiasm about the acquisition, highlighting its alignment with the company’s goal to foster a sustainable future through renewable energy. Meanwhile, Manoj Upadhyay, the Acme Group’s Founder, Chairman, and Managing Director, noted the transaction as a reflection of their commitment to India’s renewable energy needs and a continuation of their successful partnership with BluPine Energy.

Abhishek Bansal, Partner at Actis, emphasized the firm’s proven track record in the Indian energy sector and its ambition to scale BluPine Energy into a cornerstone of the Indian renewables industry. This acquisition not only marks a significant step for BluPine Energy but also aligns with India’s broader objectives for a greener, more sustainable energy future.

BluPine Energy, backed by an $800 million investment from Actis’ Energy Fund 5, is on a mission to develop a comprehensive 4+ GW renewable energy portfolio in India, focusing on solar, wind, and storage assets to deliver sustainable, low-carbon solutions to a diverse customer base.