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Blueleaf Energy forays into domestic solar market, acquires Vibrant Energy

In a statement, Blue Leaf Energy Asia Pte Limited (Blueleaf Energy) said it has acquired a majority stake in Vibrant Energy Holdings Pte Ltd (Vibrant Energy) from ATN International, Inc (ATN). The acquisition also marks Blueleaf Energy's entry into the Indian market, which is now the third largest solar market in the world, it added.

PTI | New Delhi | Updated: 30-11-2020 22:13 IST | Created: 30-11-2020 22:10 IST
Blueleaf Energy forays into domestic solar market, acquires Vibrant Energy
Representative Image Image Credit: ANI

Solar solutions provider Blueleaf Energy on Monday announced its foray into the domestic renewable energy market by acquiring a majority stake in Vibrant Energy. Blueleaf Energy, however, didn't provide any details about the acquisition cost or the stake it has acquired in the Hyderabad-based company.

Blueleaf Energy provides project development, financing, engineering, procurement and construction (EPC) and operation and maintenance (O&M) services for solar industry, with more than 2 GW capacity installed globally, including over 500 MW in the Asia Pacific region. In a statement, Blue Leaf Energy Asia Pte Limited (Blueleaf Energy) said it has acquired a majority stake in Vibrant Energy Holdings Pte Ltd (Vibrant Energy) from ATN International, Inc (ATN).

The acquisition also marks Blueleaf Energy's entry into the Indian market, which is now the third largest solar market in the world, it added. "India is in the middle of a renewables revolution. With the acquisition of Vibrant Energy, we've secured a deeply talented team and an impressive development pipeline in one of the most significant and exciting markets for the solar energy industry," Sol Proops, interim CEO of Blueleaf Energy said.

Srini Viswanathan, CEO of Vibrant Energy Holdings, said, "The acquisition uniquely positions Vibrant Energy to become an innovative C&I (commercial and industrial) platform in India by cross-leveraging the expertise of Blueleaf and ATN. "Vibrant Energy has significant in-house capabilities to not only originate, develop, execute, and manage utility plants at scale, but to also adapt in a fast-changing C&I market." PTI ABI RVK

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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