ACME Solar scraps plan to acquire solar park developer
Green energy company ACME Solar Holdings Ltd has dropped its plan to acquire Jaipur-based solar park developer AK Renewable Infra Pvt Ltd, just a week after inking the Rs 79.25 crore (around $9 million) deal. The BSE- and NSE-listed company said in an exchange filing on Saturday that it had terminated ......
Adani Green, ReNew Power, Avaada, others lose grid access for clean energy projects
The central government-run power-transmission company has cancelled grid access for nearly 17 gigawatts (GW) of delayed clean energy projects to prioritise connections for those that are operational or nearing completion, according to a source familiar with the matter and official documents reviewed by Reuters. The Central Transmission Utility of India Ltd (CTUIL) informed companies including ......
Former Juniper Green, Orange Renewable execs’ firm eyes maiden PE cheque
Sirius Renewable Power Pvt Ltd (SRPPL), founded by renewable energy veterans formerly associated with Juniper Green Energy and Orange Renewable, is in talks to raise its maiden institutional funding round, at least two people familiar with the development told VCCircle. The Gurugram-based renewable energy developer, which focuses on developing and operating ......
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 ......
Renewable energy firm Juniper Green files for IPO
AT Capital-backed Juniper Green Energy, a Gurugram-based renewable energy company, is set to raise Rs 3,000 crore ($350 million) through an initial public offering (IPO). The public offering will comprise solely of a fresh issue. The company may also look to raise Rs 600 crore before going public through a pre-IPO ......
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 ......
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 ......
Solar module maker Rayzon Solar files for $175 mn IPO
Surat, Gujarat-based solar photovoltaic module maker Rayzon Solar Ltd has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise Rs 1,500 crore ($175 million) via an initial public offering. The IPO comprises only a fresh issue of shares and existing shareholders don’t intend to sell any ......
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 ......
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