Exclusive Webinar :Gain complete knowledge about how you can invest in global markets during an insightful webinar on April 16 at 11 am. Register Now!
you are here: HomeNewsBusiness

Actis to invest $850 million in two green energy platforms in India: Report

Investment in the grid-connected solar and wind parks platform will be around $600 million and for the C&I platform will be around $250 million.

March 29, 2021 / 02:20 PM IST
Representative image

Representative image

Private equity (PE) firm Actis plans to invest $850 million to build two green energy platforms in India – one for its grid-connected solar and wind power parks and another for its commercial and industrial (C&I) segment in the country.

The investments will be made from the Actis Energy 5 LP fund, two sources told Mint. The move, they said, “highlight growing investor interest” in India’s renewable energy space.

Moneycontrol could not independently verify the report.

Investment in the grid-connected solar and wind parks platform will be around $600 million and for the C&I platform will be around $250 million, one source said. Both firms will be set up “shortly,” they added.

The source further added that the company will also be operating renewable and road assets via its yield-based fund called Actis Long Life Infrastructure Fund.

Close

Actis did not respond to queries, as per the report.

These would be the third and fourth clean energy companies being set up in India by Actis after it sold Ostro Energy to Renew Power Venture for $1.5 billion in 2018. Actis has committed to invest $2.1 billion in India’s real estate, finance and energy sectors.

Its India renewable platform called Sprng Energy has a portfolio of 800 MW operational wind and solar assets, and more than 400 MW in the pipeline. The PE firm plans to grow Sprng’s portfolio to 2 GW before monetising it.
Moneycontrol News
first published: Mar 29, 2021 02:20 pm

stay updated

Get Daily News on your Browser
Sections