BluPine Energy, a renewable energy firm supported by investment entity Actis, has broadened its renewable energy holdings by acquiring 369MW of solar assets from the Acme Group in India. Chairman of the Acme Group, Manoj Upadhyay, remarked, “This marks our second fruitful collaboration with BluPine. We leaned on the Actis platform’s expertise for this asset transaction. At Acme Group, we persist in reinforcing our presence in the renewable energy sector while simultaneously expanding our asset portfolio”.
With this acquisition, BluPine Energy’s total renewable energy capacity has surged to 2.4GW. The solar assets are spread across the Indian states of Uttarakhand, Punjab, and Karnataka, signifying a significant stride towards BluPine Energy’s five-year strategic plan.
As reported by Power Technology, the company aims to boost its wind and solar portfolio to 4GW, encompassing hybrid assets complemented by battery energy storage systems. Neerav Nanavaty, CEO of BluPine Energy informed, “India’s renewable energy sector continues to experience noteworthy expansion. This acquisition underscores BluPine Energy’s commitment to fostering a sustainable future through renewable energy solutions”.
