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Bluspring Enterprises to Acquire STEAG India, Strengthening Global Power Services Portfolio

Bluspring Enterprises has announced that its wholly owned subsidiary, Bluspring New Horizon, has entered into a definitive agreement to acquire a 100% stake in STEAG Energy Services India. The company is currently owned by Germany-based STEAG Power GmbH, and the deal is expected to be completed within 60–90 days, subject to standard closing conditions.

Established in 2001, STEAG India is a well-established player in the power and energy sector, offering services across operations and maintenance (O&M), digital solutions, engineering, and management advisory. The company operates across India as well as international markets such as Botswana and the Middle East, supported by a workforce of around 2,000 professionals and generating annual revenues exceeding Rs600 crore.

With strong technical expertise, STEAG India manages nearly 7 GW of power assets along with 2,200 tonnes per hour of process steam capacity. Its capabilities span multiple fuel types and include advanced power systems such as supercritical plants and refinery utilities, demonstrating its presence across the entire energy value chain.

The acquisition is expected to significantly enhance Bluspring’s capabilities across both upstream and downstream power services, while accelerating its expansion in India’s growing power infrastructure market and global regions. In particular, STEAG India’s strengths in digital technologies—such as performance monitoring, predictive analytics, diagnostics, and simulation tools—will enable Bluspring to offer more advanced, technology-driven solutions to its clients.

Kamal Pal Hoda, Executive Director and CEO of Bluspring Enterprises, described the acquisition as a key step in building a comprehensive infrastructure services platform. He noted that with India’s installed power capacity surpassing 500 GW, the sector presents strong growth potential. The integration of STEAG India’s expertise is expected to enhance Bluspring’s capabilities in O&M, engineering, and digital services, while also improving financial performance and long-term shareholder value.

Ujjwal Kanti Bhattacharya, Managing Director of STEAG Energy Services India, stated that the company has built a strong reputation through technical excellence and long-standing client relationships. He expressed confidence that under Bluspring’s leadership, the business will enter its next phase of growth, combining complementary strengths to deliver greater value to customers while continuing its legacy in the power sector.