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Mergers & Acquisitions

Aerem acquires Spinkraft

Aerem Solutions, a solar fintech company in India, has entered into a definitive agreement to acquire solar equipment distributor Spinkraft Ventures.

Reliance completes sale of REC’s polysilicon manufacturing unit

Reliance Industries Ltd (RIL) has completed sale of REC Solar Holdings’ kerf-based polysilicon manufacturing arm, REC Solar Norway, to Elkem ASA. It continues to retain the technology and intellectual property rights of kerf-based polysilicon post sale of REC Solar Norway.


Adani Energy Solutions completes acquisition of Essar’s operational Mahan-Sipat transmission assets

Adani Energy Solutions Ltd (AESL) has acquired Essar’s operational Mahan-Sipat transmission assets for an enterprise value of INR 1,900 crore. This acquisition will add 673 ckt km, 400 kV inter-state transmission line, taking AESL’s cumulative network to more than 21,000 ckt km.

Himadri Speciality Chemical acquires 40% stake in Invati Creations

Himadri Speciality Chemical has acquired 40% stake in Invati Creations, a company focused on engineering Lithium-ion electrode materials. The acquisition was done for a consideration of INR 45.16 crore.

BluPine Energy acquires 369 MW of solar assets from Acme Group

BluPine Energy has acquired Acme Group’s 369 MW of solar power assets in Uttarakhand, Punjab, and Karnataka.

Epsilon Advanced Materials completes acquisition of LFP Cathode Technology Center in Germany

Acquisition of the technology center in Germany expedites Epsilon Advanced Materials’s plans to establish a lithium-ion phosphate (LFP) cathode manufacturing plant in India, Asia’s first outside of China

Reliance to sell REC’s polysilicon manufacturing arm for $22 million

Reliance Industries Ltd (RIL) is selling REC Solar Holdings’ kerf-based polysilicon manufacturing arm REC Solar Norway to Elkem ASA, a silicon-based material provider. Upon completion of the sale, RIL will continue to retain the technology and intellectual property rights of kerf-based polysilicon.

IndiGrid signs agreement to acquire 300 MW (AC) solar assets from ReNew

IndiGrid has executed the share purchase agreement to acquire ReNew Solar Urja Pvt Ltd from ReNew Solar Power, which operates a 300 MW (AC) solar project in Rajasthan. The acquisition is to be done a total enterprise value of INR 1,650 crore ($199 million) including net working capital and cash.

Mahindra & Mahindra sells solar assets to InvIT owned with Canadian pension fund

Mahindra & Mahindra Group has announced the cessation of its solar subsidiaries Emergent Solren, Mega Suryaurja, Megasolis Renewables, Neo Solren, Astra Solren, and Brightsolar Renewable Energy.

ISA announces launch of pilot project backed by Global Solar Facility

The International Solar Alliance’s Global Solar Facility (GSF) includes payment guarantee, insurance and investment fund components to catalyze solar investments in underserved geographies.

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