Other Private Equity/Strategic Investments
KKR, NIIF, Blackstone, others in race to acquire BluPine Energy from Actis at $2-B valuation
UK-based Actis is exploring a sale of its Gurugram-based renewable energy platform BluPine Energy , seeking a valuation between USD 1.5 Billion and USD 2 Billion. KKR, NIIF, and Blackstone are evaluating the asset, while ISquared Capital is exploring an investment through its platform HEXA. Other entities involved in the process include Inox Clean Energy, Macquarie, RPSG Group, Torrent Power, and Apraava Energy.Launched in 2022 by Actis and led by Neerav Nanavaty, BluPine Energy develops, builds, owns, and operates utility-scale solar, wind, and storage projects. The company focuses on a buy-and-build strategy involving both government and commercial and industrial (C&I) power purchase agreements. The firm provides customised renewable energy solutions through captive, group captive, and open access models to support corporate decarbonisation objectives.The company plans to develop a capacity of 4 GW of renewable energy projects. In 2022, the company acquired a 404 MW operating solar portfolio in India.
For FY25, BluPine Energy had reported about INR 109 Cr in Operating Income and about INR 15 Cr in PAT.
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