Actis, a UK-based sustainable infrastructure investor, has announced that its portfolio company, BluPine Energy, has completed the acquisition of the Atha Group’s 404 MWp of operating solar assets in India.
BluPine Energy was launched earlier this year by Actis, targeting 4 GW of utility-scale solar, wind and storage projects in India. To reach the targeted capacity, it has adopted a buy & build strategy with both government and commercial and industrial (C&I) power purchase agreements across India.
“The acquisition [of the Atha Group’s assets] will enable BluPine to support India’s energy transition by targeting 4 GW of portfolio capacity over the next four-five years,” stated Actis.
Actis has committed to invest up to $800 million in BluPine through its Energy 5 Fund, which represents $6 billion of investable capital, and is focused on investing in global energy transition opportunities.
Actis has previously built Indian renewable power producers Ostro Energy and Sprng Energy, both of which were sold to key strategic players.
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