Latest News | Blueleaf Energy Forays into Domestic Solar Market, Acquires Vibrant Energy

New Delhi, Nov 30 (PTI) 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.

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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).

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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."

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)