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Mergers & Acquisitions

UK investor acquires two Acme Solar projects aggregating 400 MW

Private equity investor Actis has completed the acquisition of Haryana-based Acme Solar’s 400 MW PV assets in the states of Andhra Pradesh and Madhya Pradesh.


Ayana Renewable acquires 40 MW PV projects from First Solar

This marks the first such acquisition for the Bengaluru-based developer as it looks to acquire high-quality operating renewable assets to ensure a balanced risk portfolio.

UK investor NextEnergy acquires 27.4 MWp solar project in Odisha

The plant—constructed and operated by Germany-headquartered IBC Solar Energy—is NextEnergy’s first investment in India as part of its strategy to acquire ready-to-build or operational solar projects across high-growth international markets.


Ministry moves to fend off predatory moves for Covid-weakened solar businesses

Foreign direct investment into Indian solar concerns from China and other neighboring countries will now have to secure the approval of the Ministry of New and Renewable Energy.


US investor KKR to acquire 317 MWp of SP Infra solar assets

Marking its second infrastructure investment in India, KKR will acquire Mumbai-based Shapoorji Pallonji Infrastructure’s 169 MWp solar assets in Maharashtra and 148 MWp in Tamil Nadu for a sum of Rs 15.54 billion (approximately US$204 million).

Mahindra Renewables completes sale of solar arm to CLP India

CLP India acquired Mahindra Renewables’ complete stake in Divine Solren for Rs 124.47 crore. Divine Solren is a special purpose vehicle formed by the Mahindra group to set up a 50 MW solar plant in Adilabad district of Telangana. The plant was commissioned in 2017.


Hitachi gets CCI nod to buy 80.1% stake in ABB’s power grid arm

Japan-based Hitachi will buy an 80.1% per cent stake in the Swiss major’s power grids business in a deal that values its grid business at US$ 11 billion.

Italian inverter maker confirms no ABB jobs will be lost in India

Fimer’s takeover of the inverter business of the Swiss conglomerate will not affect job numbers at ABB’s Indian production facilities, according to the new owner of the combined business.

Mahindra Renewables to sell 3 solar arms to CLP India

Cleansolar Renewable Energy, Divine Solren and Neo Solren—all of which were formed to set up and operate solar plants in Telangana—would be sold for around Rs 340 crore. The transaction is expected to be completed by May 31, 2020.

European investor EQT and Singapore’s Temasek launch renewable energy JV in India

Led by Indian developer Renew Power’s former CEO Parag Sharma, the joint venture by these global investors aims to install over 4 GW of utility-scale capacity across solar and wind projects.

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