Ayana Renewable and ACME Close Deal for 250 MW Solar Asset in Rajasthan

Ayana Renewable Power, a renewable energy platform majority controlled by National Investment and Infrastructure Fund (NIIF), and ACME Solar Holdings (ACME) closed a deal to divest 100 per cent equity stake in 250 MWac Solar PV Power Plants developed and operated from ACME to Ayana.
 
With this transaction, Ayana is now developing and managing close to 3 GWac of the renewable energy portfolio.
 
Ayana has acquired a solar plant located in Jodhpur, as part of its strategic mission to increase renewable energy production in India.
 
The plant is connected to the inter-state transmission system (ISTS) and supplies power to Maharashtra State Electricity Distribution Company Ltd (MSEDCL) under a long-term Power Purchase Agreement (PPA).
 
This further adds to Ayana’s high-quality portfolio of renewable energy assets built organically and inorganically to create value for its stakeholders.
 
At the same time, ACME completed another strategic divestment of its operating solar asset to unlock value from long-term assets.
 
Commenting on the development, Shivanand Nimbargi, MD and CEO of Ayana, commented, “We are delighted to complete the transaction and addition of 250 MW solar capacity to our portfolio. In line with our aspiration to be India’s leading renewable energy player, we will continue to pursue acquisition opportunities at scale over the next few years.”
 
Ayana’s strategic objectives are aligned with the UN Sustainable Development Goals of providing affordable and clean energy, creating economic opportunities through growth and climate action. The company is committed to supporting local communities living and working in its development locations, reducing global carbon emissions to net-zero by 2070, building green energy capacity, decarbonising the energy mix away from coal and supporting job creation which is vital to India’s long-term economic development.