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Title: Actis buys 600 MW Acme solar assets for Rs 3,000 cr
Source:The Economic Times
Date:28 February 2020

Global emerging market fund Actis has acquired solar energy assets of 600 megawatt capacity from Acme Cleantech Solutions in a deal worth Rs 3,000 crore, said two people aware of the development. Actis outbid Canadian fund Brookfield to strike a deal with one of the largest solar power producers in India, they said. The deal, signed on 26 February 2020 is subject to regulatory approvals, said one of the persons. The equity value of the deal is pegged at Rs 900 crore, he added. Offloading part of its assets will help Acme fund additional capacity and pay off debt. It’s due shortly to repay Piramal Finance, having borrowed Rs 700 crore in 2017. Acme has a total solar capacity of 5.5 GW, of which 2.9 GW is operational and 2.6 GW is under construction.




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