Hexa Climate Solutions, a Gurugram based renewable energy solutions provider, has acquired Finnish energy company Fortum’s renewable energy portfolio in India.
Hexa Climate didn’t disclose the financial details of the transaction that gives it a 100% stake in Fortum India, including its 206 MW commercial and industrial renewable energy portfolio, and around 600 MW of ready-to-build RE projects.
The transaction is in line with Fortum’s strategy to limit its exposure in India by divesting its ownership in the Indian solar RE portfolio.
Hexa Climate, backed by New York-based global infrastructure fund I Squared Capital, plans to invest up to $500 million to scale its renewable energy, water, and carbon platforms across India and other emerging markets.
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