BluPine Energy Acquires 369 MW of Solar Assets from ACME Group

BluPine Energy, a leading renewable energy services company, announced on Monday that it has completed the acquisition of 369 MW of solar power assets from the ACME Group. The acquired solar capacity power assets are spread across three Indian states: Uttarakhand, Punjab, and Karnataka. 

This acquisition augments BluPine Energy's total renewable capacity to 2.4 gigawatts. The addition of these assets to BluPine Energy's portfolio underscores the company's strategic growth plan and its commitment to expanding its renewable energy footprint in India. Neerav Nanavaty, CEO of BluPine Energy, expressed his views on the acquisition, stating, "The renewable energy sector in India continues to witness remarkable growth.

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Actis, a major investor and pioneer in establishing and funding sustainable infrastructure companies, founded BluPine Energy in India. With an investment of USD 800 million from Actis' Energy Fund 5, BluPine Energy is dedicated to developing a renewable energy portfolio of over 4 GW in India. This acquisition is a testament to the company's ongoing efforts to achieve this goal.

Objectives of the Acquisition

Expansion of Renewable Capacity: The acquisition augments BluPine Energy's total renewable capacity to an impressive 2.4 gigawatts. 

Advancement of Sustainable Energy Solutions: BluPine Energy is committed to advancing sustainable energy solutions. By integrating these assets, the company reaffirms its position as a key player in India's burgeoning renewable energy landscape.

Strategic Growth Plan: The acquisition aligns with BluPine Energy's strategic growth plan. With an investment of USD 800 million from Actis' Energy Fund 5, BluPine Energy aims to develop a renewable energy portfolio of over 4 GW in India. This acquisition brings the company closer to achieving this goal.

Driving the Energy Transition: BluPine Energy plays a crucial role in accelerating India's energy transition. The acquisition of solar assets from the ACME Group demonstrates the company's commitment to investing in renewable energy and contributing to India's energy transition.

About BluPine

Actis, a global investor in sustainable infrastructure, founded the renewable energy company BluPine in India. They focus on developing, owning, and operating renewable energy projects across India.

 BluPine builds large-scale solar and wind power plants to generate clean energy for both state and central utilities in India. They emphasize using state-of-the-art technology while minimizing environmental impact.

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