ACME Solar Holdings has executed a share purchase agreement to acquire 100% equity shares of AK Renewable Infra for an enterprise value of INR 79.25 crore.
AK Renewable Infra, incorporated on April 14, 2021, develops renewable energy park in India. It has secured all development rights including land, connectivity and associated approvals for 300 MW capacity in Rajasthan.
AK Renewable Infra’s acquisition would enhance ACME Solar’s project pipeline and also accelerate project execution and commissioning, thus expediting revenue and profitability.
Post completion of the acquisition, AK Renewable Infra will become a wholly owned subsidiary of ACME Solar.
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