Blackstone Emerges as Frontrunner for Actis-Owned BluPine Energy
According to Moody's, Blackstone is leading talks to buy India's BluPine Energy from Actis, in a deal valuing the company at $1.7-1.8 billion.
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what happened
Moody's reports, citing three people with direct knowledge of the matter, that US private equity firm Blackstone is becoming the front-runner to acquire renewable energy platform BluPine Energy from UK-based Actis. The deal could value the company at $1.7-1.8 billion. Blackstone is competing closely with Brookfield and INOX Clean Energy. One of the sources said Blackstone seems to be leading and may soon enter exclusivity. Blackstone and Actis declined to comment, Brookfield declined to comment, and INOX did not respond.
Actis launched BluPine in 2022, aiming for 4GW of utility-scale solar, wind and storage capacity, and has already bought a 404MW operating solar portfolio. India's government is targeting 500GW of non-fossil capacity by 2030, which officials estimate will require about Rs.42 trillion of investment.
why it matters
For markets, the story signals that infrastructure funds and strategic investors keep moving into India's renewable sector, and multibillion-dollar deals are becoming routine in the industry.
market impact
Indian renewables: strong interest from large investors in local assets supports the sector
tags
instruments
sources
- Blackstone emerges frontrunner to buy Actis-owned BluPine at $1.8 billion valuation — Moody's, 13 November 2026 at 03:33 UTC
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