en.Wedoany.com Reported - ACEN Corporation has signed an agreement to sell up to a 49% stake in a 250 MW solar project in Rajasthan, India. The sale is part of the company's capital recycling strategy, aimed at funding future growth and investments.

The transaction is being conducted through ACEN's subsidiaries, Unlimited Renewables Holdings BV and Amsa Solar Holdco. The buyer, Diamond India Renewables One BV, will acquire the stake by investing in Tejorupa Renewables India Project Pvt Ltd, the special purpose vehicle for the project. The acquisition will be completed in stages, starting with an initial purchase of 10% voting rights, with subsequent share transfers subject to customary closing conditions and regulatory approvals. Financial details of the transaction were not disclosed.

The 250 MW solar project is located in Rajasthan, one of India's leading renewable energy markets, known for its abundant solar resource potential and large-scale utility solar development. This stake sale is part of ACEN's broader strategy to recycle capital from operational and development-stage assets to fund new renewable energy opportunities. Such transactions allow developers to unlock value from existing projects while maintaining exposure to high-growth markets.

This announcement follows ACEN's recent consolidation of its Indian renewable energy business, after acquiring full ownership of its former joint venture with UPC Renewables. Through this transaction, ACEN has strengthened its presence in India, with a portfolio that includes projects under construction and development in Rajasthan and Karnataka, as well as a multi-gigawatt development pipeline. India remains a key market in ACEN's regional growth strategy.

The latest deal highlights the growing maturity of India's renewable energy industry, as strategic investors actively seek equity in high-quality clean energy assets, while developers use capital recycling to support further expansion.

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