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Mergers & Acquisitions

Virescent Infrastructure acquires 76 MW of operating solar assets in India

US investor KKR-backed Virescent Infrastructure has acquired Singapore-based Sindicatum Group’s operating solar assets in three Indian states. The acquired PV projects benefit from long-term power purchase agreements with government counterparties.

Dutch LPG major acquires majority stake in SunSource Energy

SHV Energy, a Netherlands-headquartered global distributor of liquefied petroleum gas (LPG), has invested in India’s SunSource Energy as it seeks to realize new opportunities within distributed renewable energy. The investment also enables SunSource to expand its distributed solar portfolio.

RattanIndia forays into electric vehicle space

The private-sector power producer is investing an aggregate INR 150-crore amount into Revolt Intellicorp, a next-generation electric mobility company, as part of its strategy to diversify into new business avenues.

Indian firm purchases American hydrogen cylinder maker Catalina Composites

New Delhi-headquartered Uttam Group of Companies has purchased California-based Catalina Composites as it sees a surge in demand for clean energy solutions, including hydrogen. The company will invest at least $20 million in staff, equipment, and research and development of high-pressure cylinder production for hydrogen and compressed natural gas.

Amplus acquires rooftop solar projects from Sterling and Wilson

The Gurugram-headquartered distributed solar energy company has acquired Sterling and Wilson’s 7.2 MWp of on-site rooftop solar projects across seven Indian states.

Azure Power sells 152 MW solar rooftop portfolio to Radiance Renewables

The New Delhi-based developer has agreed to sell its 152 MW of solar rooftop portfolio for INR 536.5 crore (US$ 73.5 million) as it focuses on capital discipline and improving shareholder returns.

Adani Green acquires 20 MW solar assets from Hindustan Power

Following 75 MW solar assets in Telangana, Adani Green Energy has completed the acquisition of 20 MW PV assets in Uttar Pradesh for INR 133 crore. 

Edelweiss Infrastructure acquires 74% stake in Engie’s India solar assets

The Mumbai-based investor has concluded acquiring a controlling stake in Engie’s 813 MWp operating solar capacity in India. It will also acquire 2 GW of solar assets to be developed by the French energy major over the next couple of years. 

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Adani Green to buy Sterling & Wilson’s 75 MW Telangana solar assets

Adani Green Energy has signed an agreement with Sterling & Wilson to acquire its 75 MW of operating solar projects for around INR 446 crore. The projects are located in Telangana.

Adani Green to acquire Canadian developer SkyPower Global’s 50 MW solar asset in India

The Indian developer has signed an agreement with the Canadian developer to acquire its 50 MW Telangana solar project at an enterprise value of around INR 317 crore.

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