Actis has acquired solar energy assets of 600 MW capacity from Acme Cleantech Solutions in a deal worth Rs 3,000 crore. Actis outbid Canadian fund Brookfield to strike a deal with one of the largest solar power producers in India.
The deal is subject to regulatory approvals. The equity value of the deal is pegged at Rs 900 crore. The offloading part of its assets will help Acme Cleantech Soultions’ fund additional capacity and pay off debt.
Acme Cleantech Solutions has a total solar capacity of 5.5 GW, of which 2.9 GW is operational and 2.6 GW is under construction. Actis will acquire assets through its global infrastructure vertical. The fund has been investing in the Indian renewable energy space and has its own platform Sprng Energy which has projects with a total capacity of 1.7 GW in India, that comprises 750 MW of solar and 797 MW of wind energy projects under execution besides 194 MW of solar power under operation.