Integrated infrastructure services company Bluspring Enterprises has announced that its wholly owned subsidiary, Bluspring New Horizon One (BNHOPL), has executed a share purchase agreement with Germany-based STEAG Energy and STEAG Energy Services India (SESI) to acquire 100% of SESI’s paid-up share capital for a cash consideration of ₹1.8 billion (~$19.28 million).

STEAG India, founded in 2001, provides O&M services, digital solutions, engineering, and advisory services for conventional and renewable power projects.

Bluspring currently services over 2,000 MW of power capacity across its infrastructure portfolio, which includes industrial and energy-linked assets with renewable integration.

The company stated that the acquisition aligns with its strategy to expand its industrial vertical and strengthen its presence in the power services segment. STEAG India’s capabilities are expected to complement Bluspring’s existing operations and enhance its capabilities across the energy value chain, including renewables.

The transaction is also expected to provide access to established client relationships and act as a platform for international expansion. The company added that the acquisition is likely to be margin-accretive and earnings-per-share accretive, thereby improving its overall return on equity profile.

Upon completion, SESI will become a wholly owned subsidiary of Bluspring Enterprises. Its existing subsidiaries, STEAG Energy Services (Botswana), a wholly owned entity, and STEAG O&M Company, a joint venture with Hinduja Energy (India), will become step-down subsidiaries of BNHOPL.

The acquisition process must be completed within 120 days, subject to the completion of mutually agreed conditions.

SESI has established operations across India and Botswana, with offices in Dubai and Bangladesh and project presence in select markets across the Middle East, Asia, and Africa.

Mergers and acquisitions (M&A) activity was 17% higher year-over-year in 2025, with 96 corporate M&A transactions, up from 82 in 2024, according to Mercom Capital Group’s newly released 2025 Annual and Q4 Solar Funding and M&A Report.

The number of large-scale solar project acquisitions in 2025 increased by 13%, to 246 from 217 in 2024. The total acquired capacity also dropped to 37.4 GW, a 1% decrease compared to 37.7 GW the previous year.