Global investor Actis has completed the acquisition of two solar farms totalling 400MW in India from Acme Solar Holdings for an undisclosed price.
The purchase is through Actis Long Life Infrastructure Fund for projects located in the Indian states of Andhra Pradesh and Madhya Pradesh.
Actis partner responsible for its energy and infrastructure business in the region Sanjiv Aggarwal said: “India is one of the fastest growing solar markets in the world and the government’s commitment to increasing renewable energy production continues to create attractive investment opportunities for our Allif and Energy funds.
“We will continue to focus on M&A and PPA auctions in India.
“India has a lot of potential for solar power and Acme is very well poised to tap this potential and create value for utilities and consumers by offering day time power at very low cost.
“Asset divestment to long term investors like Actis helps unlock equity value and aid our growth plans in India.”