Actis backed Blupine energy acquires 404 MWp operating solar portfolio from Atha group

Actis has announced that its portfolio company, BluPine Energy has completed the acquisition of a 404 MWp operating pan-India solar portfolio from the Atha Group. This acquisition will enable BluPine to support India’s energy transition by targeting 4 GW of portfolio capacity over the next four to five years. Kotak Investment Banking advised BluPine and Avendus Capital advised Atha Group on the execution of this transaction.

Actis has committed to invest up to $800 million in BluPine through Actis Energy 5 Fund which represents $6 billion of investable capital and is focused on investing in global energy transition opportunities. Working with Actis’s in-house sustainability team, BluPine will implement world-class governance standards and focus on key areas including health and safety, procurement, skills training within communities and biodiversity mitigation.

Actis has invested in over 70 renewable energy projects up till now with approximately 12 GW of renewable energy capacity globally and is targeting another 12.5 GW.