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, ......
Bottomline: NIIF-controlled Ayana loses momentum as revenue growth slows, profit slumps
The financial year 2023-24 was not a particularly fruitful one for green energy company Ayana Renewable Power Pvt Ltd as it recorded a decline in its net profit and a slowdown in revenue growth. Ayana, which is 51% owned by the Indian government-backed National Investment and Infrastructure Fund (NIIF) and counts ......
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 ......
We don't play on cost, can reject low-paying mandates: IndusLaw's M Arun Kumar
IndusLaw, one of India’s largest law firms by number of partners and lawyers, has been rocked in recent months by the departure of many partners and lawyers. However, the firm has a strong presence in several practice areas and doesn’t need to play on costs to get clients, says M. ......
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 ......
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 ......
NIIF, CDC-backed Ayana Renewable closes deal to buy 100% stake in ACME’s solar plant
National Investment and Infrastructure Fund (NIIF)-owned Ayana Renewable Power Private Ltd (Ayana), announced the closure of a deal to divest 100% equity stake in 250 (MW)ac Solar PV Power Plants, developed and operated from ACME Solar Holdings Private Limited (ACME) to Ayana. “With this transaction, Ayana is now developing and managing ......
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 ......
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