Actis PE-backed BluPine Energy buys Atha Group's 404 MW solar assets

BluPine Energy, a renewable wind and solar power generation and storage business owned by UK-headquartered PE firm Actis, has acquired a 404 MW operating pan-India solar portfolio from the Atha Group. Kotak Investment Banking advised BluPine and Avendus Capital advised Atha Group on the transaction. The acquisition will enable BluPine target 4GWs of portfolio capacity over the next 4 – 5 years. Kolkata-based mining and minerals group Atha plans to exit its clean energy business.