Canada’s Brookfield and UK’s Actis, are reportedly in talk to acquire cash-strapped Indian power producer-Acme Cleantech Solutions’ solar energy assets.
Acme has an operational asset of 2.5 GW and 3 GW under construction. According to ET the Indian firm at this moment is not looking to totally exit the renewable energy business but want to sell a part of its portfolio of around 300 MW to pay off debt obligations.
Piramal Finance Ltd in 2017sanctioned Rs 700 crore in debt to Acme Solar. A close source knowing aware about the sale process speaking to the publication said- This line is expected to be due shortly.
If everything goes right then the Rs 1,200-crore deal would be Brookfield’s second buyout in India’s clean energy space.
The publication citing sources notes that Actis may acquire Acme assets through its Indian platform Sprng Energy.