Ayana Renewables to acquire 250 MW solar project from ACME

Ayana Renewable Power Private Limited and ACME Solar Holdings Private Limited have announced the closure of a deal as part of which ACME will sell 100 per cent equity stake in an operational 250 MW ac solar project to Ayana. With this transaction, Ayana is now developing and managing close to 3 GW of renewable energy.

As part of its strategic aim to boost renewable energy production in India, Ayana has bought a solar energy generating facility in Jodhpur. Under a long-term Power Purchase Agreement, the plant is connected to the interstate transmission system and distributes power to Maharashtra State Electricity Distribution Company Limited. As per a company statement, this adds to Ayana’s high-quality portfolio of renewable energy assets, which it has expanded both organically and inorganically to provide value to its stakeholders. ACME made another strategic disposal of its running solar asset at the same time in order to release value from long-term assets.

In September 2021, a subsidiary of Norwegian energy company Greenstat, Greenstat Hydrogen India, and Ayana Renewable Power signed a Memorandum of Understanding to expedite the development of hydrogen technology development in India. The goal of the partnership is to collaborate on developing projects for green hydrogen production.

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