Amplus acquires 100 MW of ACME’s solar assets

Petronas, through its Indian arm, Amplus Energy Solutions, has acquired 100 MW of solar assets from ACME Solar. Petroliam Nasional Berhad, or Petronas, is Malaysia’s state-run oil and gas company. The 100 MW solar power capacity is located in Karnataka’s Pavagada Solar Park and was developed under the National Solar Mission with a tariff of Rs 4.79 per kWh. The capacity was commissioned in 2018. The deal is reportedly valued at around Rs 8 billion. In August 2020, Actis, the UK-based fund, closed its acquisition of 400 MW assets from Acme for a consideration of Rs 2.5 billion. With the sale of 100 MW of assets, Acme has raised around Rs 3.3 billion in 2020 through its asset sale.

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