Brookfield, Actis eye Acme Solar assets
Mumbai: Bulge-bracket global investors, including Canada’s Brookfield and the UK’s Actis, are in separate discussions to acquire some solar energy assets from Acme Cleantech Solutions, a cash-strapped Indian power producer. Acme has 2.5 GW of operational assets and 3 GW under construction. Although Acme does not want to totally exit the business, selling a part of its portfolio of around 300 MW will help fund additional capacity and pay off debt obligations.
In 2017, Piramal Finance Ltd, a subsidiary of Piramal EnterprisesNSE -2.93 % Ltd, sanctioned Rs 700 crore in debt to Acme Solar. This line is expected to be due shortly, a person aware of the proposed sale process told ET. Acme, Brookfield and Actis declined to comment.
