BluPine Energy attracts investor interest amidst India's expanding clean energy market
Deal News | Dec 17, 2024 | EIN
The Indian renewable energy market is witnessing heightened interest as global investors line up for a stake in BluPine Energy, established by Actis Capital. Although Actis denies any plans to divest, anonymous sources suggest preliminary discussions are underway, with formal proceedings potentially commencing next year. BluPine, possessing 2.6 GW of solar and wind energy assets in India, has benefited from Actis's $800 million investment from Energy Fund 5, set to reach a 4 GW target by 2028. As renewable energy deals gain momentum, with significant investments like the $350 million from ADB and DEG, the market is poised for rapid expansion amid challenges in project execution.
Sectors
- Renewable Energy
- Private Equity
- Mergers & Acquisitions
Geography
- India – The primary focus of the article is on the renewable energy market in India, with BluPine's assets and investor activity centered around this region.
- United Kingdom – Actis Capital, the company exploring strategic options for BluPine Energy, is based in London, UK.
Industry
- Renewable Energy – The article focuses on the renewable energy sector, highlighting investment interest in BluPine Energy, which operates within solar and wind energy across India.
- Private Equity – Actis Capital, a private equity firm, is a central player, contemplating investment strategies and divestment possibilities for BluPine Energy.
- Mergers & Acquisitions – The article discusses potential M&A activity involving BluPine Energy, attracting significant investor interest amid India's clean energy drive.
Financials
- $1 billion – Estimated value BluPine Energy could fetch in a stakeholder deal.
- $800 million – Investment in BluPine by Actis from its Energy Fund 5.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BluPine Energy | Target Company | Company | A renewable power platform in India, established by Actis Capital, with major solar and wind energy assets. |
| Actis Capital | Private Equity Firm | Company | A London-based global private equity firm managing BluPine Energy. |
| Atha Group | Seller | Company | Provided BluPine Energy with 404 MW of solar assets in 2022. |
| Acme Group | Seller | Company | Sold 369 MW of operational solar power assets to BluPine Energy. |
| Macquarie | Bidding Company | Company | Reportedly involved in other renewable energy acquisitions within the Indian market. |
| JSW Group | Bidding Company | Company | Involved in a significant renewable energy acquisition deal. |