Petronas acquires 100 MW solar assets from Acme Solar

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Petronas acquires 100 MW solar assets from Acme Solar

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Has acquired the assets through its Indian unit

Petroliam Nasional Berhad (Petronas), Malaysia’s state-run oil and gas company, has acquired around 100 MW solar assets owned by Acme Solar. The solar assets located in Karnataka, were acquired at an enterprise value of Rs 800 crore.

Petronas has acquired the assets through its Indian unit Amplus Energy Solutions.

In August 2020, the UK-based fund Actis closed its acquisition of 400 MW assets from Acme for a consideration of Rs 2,500 crore. With the sale of 100 MW assets, Acme has raised around Rs 3,300 crore in 2020 through assets sale.

Acme has a diversified portfolio of five GW spread across multiple states and with a mix of central and state utilities.

Amplus Energy Solutions, a rooftop solar power producer, was acquired by Petronas in 2019 from New York-based investor I Squared Capital. Amplus Solar owns and manages a portfolio of 650 MW of operational and under construction solar assets across the country.