Bluspring to Buy STEAG India Unit for ₹1.8B

Bluspring Enterprises, via its wholly owned subsidiary Bluspring New Horizon One, has agreed to acquire 100% of STEAG Energy Services India’s paid-up share capital for a cash consideration of ₹1.8 billion (about $19.28 million). The seller is Germany-based STEAG Energy and STEAG Energy Services India.

STEAG India, founded in 2001, provides O&M services, digital solutions, engineering, and advisory services for conventional and renewable power projects. Bluspring said it currently services over 2,000 MW of power capacity and expects STEAG India’s capabilities to complement its energy value-chain operations, including renewables.

The acquisition must be completed within 120 days, subject to mutually agreed conditions, and STEAG India will become a wholly owned subsidiary of Bluspring Enterprises.