Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

India’s Acme Sells Stake In 250-Megawatt Solar Power Project To Foreign Investors

Acme Cleantech Solutions has reported another major equity sale deal for a large solar power project.

According to media reports, Acme Cleantech has sold 49% stake in a 250-megawatt solar power project currently under development in the state of Rajasthan. Denmark’s IFU has acquired 39% on behalf of the Danish SGD Investment Fund while the United Nations’ Sustainable Infrastructure Impact Investments (S3i) has acquired 10% stake in the project.

News of the transaction comes just days after Acme announced a plan to sell 50% equity stake in 900 megawatts of solar power capacity also under development in Rajasthan to Norwegian developer Scatec Solar. Acme had also sold a 400-megawatt project to Actis Long Life Infrastructure Fund and a 100-megawatt project to competitor Amplus Solar.

Deals and transactions in India’s renewable energy market have shot up significantly over the last few months.

Most developers have been looking to raise funds to develop new projects, while some have fully exited the market. SoftBank-based SB Energy has reportedly decided to sell its entire 4.9-gigawatt solar and wind portfolio to competitor Adani Green Energy.

Developers Hero Future Energies and Sterling & Wilson also sold a total of 375 megawatts of capacity to Adani Green Energy. Some developers have been looking to raise funds from capital markets. ReNew Power will be listed at Nasdaq through a Special Purpose Acquisition Company (SPAC), while another company, Mytrah Energy, is also exploring a similar route for listing.

Tata Power was reported to have been planning to list a yieldco of its renewable power projects. French utility Total earlier this year acquired a 20% equity stake in Adani Green Energy and a 50% stake in a yieldco of its solar power projects. Greenko Energy Holdings continued to raise debt through green bonds this year.

 

Advertisement
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

You May Also Like

Clean Power

Welcome to another issue of our India x Cleantech series! On a monthly basis, we are pulling news from across clean technology sectors in...

Cars

Tesla’s move into India is currently on hold, Reuters reports, adding that Tesla has abandoned a search for a showroom space while reassigning some...

Climate Change

As schools across India close early for the summer — unable to operate amid the extreme heat and resulting power shut offs — a...

Clean Power

Crude oil to broadband conglomerate Reliance Industries is reportedly planning a giga-scale venture into solar power generation.  According to media reports, Reliance Industries is...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.