Sun Energy, an Indonesian solar energy producer, and Vitol, a global energy trading firm, have submitted bids to acquire Vibrant Energy, a company owned by Macquarie. Vibrant Energy specializes in providing green power to commercial and industrial units. Currently, it operates a renewable energy portfolio of 132 MW and has an active pipeline of 36 MW.
The company focuses on developing open access renewable energy solutions, including wind and solar, for corporate customers. Notably, around 70% of Vibrant Energy is owned by Blueleaf Energy, a company within Macquarie’s Green Investment Group, with the remaining portion held by ATN International based in the United States.
Blueleaf Energy boasts a substantial development pipeline, exceeding 7 GW globally, encompassing solar, wind, and storage projects. Meanwhile, Macquarie’s Green Investment Group has an impressive portfolio of over 85 GW under development across 25 global markets. In December 2022, Vibrant Energy entered into an agreement with Amazon to establish wind-solar hybrid projects in India, totaling 300 MW of renewable energy capacity. These projects will be situated in Madhya Pradesh and Karnataka.
As reported by The Economic Times, Vibrant Energy forged an agreement with Sify Technologies last year, securing a total capacity of 231 MW of solar and wind energy to power Sify’s latest hyperscale data centers. The commercial and industrial (C&I) renewable energy market in India is expected to grow by 47 GW over the next five years. In June, Canadian investor Brookfield acquired a majority stake in Cleanmax Solar, another player in the C&I renewable sector in India.
The sale of Vibrant Energy is part of Macquarie’s strategy to divest from its India portfolio. Macquarie recently signed an agreement to sell a portfolio of four road assets to Highways Infrastructure Trust, an infrastructure investment trust owned by KKR, for Rs 3,000 crore.
