Actis-backed Blupine Energy acquires select India assets from Acme Group
BluPine Energy Pvt. Ltd, a renewable energy platform established in India by the UK-based private equity firm Actis, on Monday said it has completed the acquisition of 369 megawatts (MW) solar power assets from Indian renewable energy producer Acme Group. While, the companies declined to disclose transaction details of the deal, ......
ACME’s multi-billion-dollar plans are hitting its prospects. Can it spring a surprise?
Four years ago, solar energy producer ACME Group was facing an existential crisis of sorts. But last year, it announced three projects in a new vertical that could cost over $15 billion and could again put its financial position in jeopardy. Consider this: In March 2022, ACME announced an equal joint venture with Norwegian renewable energy company Scatec to set up a green ......
ACME loses JV partner for multi-billion-dollar project in Middle East
Indian renewable energy producer ACME Group’s plan to set up a multi-billion-dollar green ammonia project in the Middle East has run into rough weather after its joint venture partner decided to pull out, VCCircle has gathered. ACME, led by founder and chairman Manoj K Upadhyay, had in March 2022 agreed to form ......
How Actis-backed BluPine Energy is sharpening focus on commercial, industrial segment
BluPine Energy, the Indian renewable energy platform of private equity firm Actis, could soon make its biggest foray yet in the commercial and industrial segment even as it considers raising its C&I target, a senior executive told VCCircle. The company is set to ink power purchase agreements (PPAs) for up to ......
Rothschild appointed to raise $500 mn equity for ACME project
India’s largest pure-play solar platform, the ACME Group, has given a formal mandate to Rothschild and Co. to raise $500 million equity by selling a stake in ACME Cleantech Solutions Pvt. Ltd, said two people in the know. The funds will be raised for the large green hydrogen and green ammonia ......
Eversource to get a cheque from existing LP for smart metering platform
Climate-focused alternative investment firm Eversource Capital is set to receive funding from one of its existing limited partners for its India-focused smart metering platform, as it moves forward in a sector that has also attracted Singapore sovereign wealth fund GIC and US-based infrastructure private equity firm I Squared Capital. Eversource, formed ......
Grapevine: RIL eyes stake in Tata Play; Warburg, Bain compete for Shriram Housing
Reliance Industries (RIL) is in talks to acquire a 29.8% stake in Tata Play from the Walt Disney Company, marking what could potentially be the first-ever joint venture between two of India’s biggest business conglomerates, a media report said. Bankers are currently assessing the value of Disney's stake in Tata Play. ......
Eversource firming up game plan for second fund; plans more buyouts, new themes
Climate-focused investor Eversource Capital, a joint venture of Indian private equity firm Everstone Capital and the UK-based Lightsource BP, is considering new investment themes for its second fund and expects to stitch more buyout deals than it did from its maiden vehicle, a top executive told VCCircle. Eversource is considering betting ......
PAG to acquire controlling stake in Acme Formulation
Asia focused private equity firm PAG said it has agreed to acquire a controlling stake in Acme Formulation Pvt Ltd which is into contract development and manufacturing outsourcing of complex pharma products. PAG will invest $145 million (Rs 1,054 crore). Citadel Management Consulting was the exclusive advisor to Acme on this ......
ACME earmarks nearly $7 bn for renewable energy investments in Karnataka
Renewable energy firm ACME Group will invest ₹52,000 crore ($6.70 billion) in Karnataka over five years to set up a green hydrogen and ammonia plant, the state government said on Monday. The investment comes as India aims to manufacture five million tonnes of green hydrogen annually by 2030 to meet its ......
