Acme Solar to fully acquire AK Renewable Infra

Acme Solar Holdings has executed a share purchase agreement (SPA) to completely acquire equity shares of AK Renewable Infra. The transaction has an enterprise value of Rs 792.5 million. Furthermore, the acquisition will be finalised subject to the SPA’s closing conditions and adjustments. Moreover, once the acquisition is completed, AK Renewable Infra will become a subsidiary of ACME Solar Holdings. Earlier this month, ACME Solar Holdings secured a letter of award for a 50 MW firm and dispatchable renewable energy project at a tariff of Rs 4.43 per unit.