Staff Writer
Abu Dhabi Investment Authority (ADIA) is among a number of Indian and global companies who have invested in Indian renewable energy company ACME Solar Holdings’ 28 billion Indian rupee ($292.7 million) qualified institutions placement (QIP).
This is ACME Solar’s first capital raise since its listing on the Indian stock exchanges in 2024, the company said in a statement to the Bombay Stock Exchange last week.
The transaction saw strong participation from a mix of existing and new Indian and foreign marquee investors, according to the statement. Foreign investors included ADIA (UAE), BlackRock and Goldman Sachs (the US), Pictet (Switzerland) and Amundi (France).
No information was given on ADIA’s investment.
The proceeds from the QIP will be used to reduce leverage and strengthen the overall balance sheet, the statement added.
ADIA had joined the initial public offering (IPO) of Clean Max Enviro Energy Solutions, an Indian renewable energy company, as an anchor investor in February 2026.
ACME Solar is the renewable energy arm of the ACME Group, which is co-developing Oman’s first green hydrogen project in Duqm, scheduled to be completed by the end of 2026.
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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