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Actis acquires a solar power plant in India

Actis announces that its portfolio company BluPine Energy has completed the acquisition of a 404 MWp solar power plant in India.

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Actis announces that its portfolio company BluPine Energy is finalizing the acquisition of a 404MWp solar plant in India.

An acquisition

Actis is targeting a portfolio capacity of 4GW over the next 4-5 years . Thus, this latest acquisition will allow Blupine to support India’s energy transition. Indeed, the company was building two leading Indian renewable IPPs, Ostro Energy and Sprng Energy.

Both were sold to key strategic players, becoming high-profile transactions in the industry. Sanjiv Aggarwal, Partner, Energy Infrastructure at Actis, states:

“With energy demand growing at 5-6% every year, it is vital that India is able to meet the electricity needs of its population. Leveraging our experience in building and operating Ostro Energy and Sprng Energy, we are committed to building a large-scale renewable energy platform that will be a key driver in India’s Net Zero journey. BluPine Energy will build wind, solar and storage capacity that will deliver clean, reliable energy across India with a focus on sustainability and positive impact.”

Actis invests in more than 70 renewable energy projects, with approximately 12GW of renewable energy capacity worldwide.

A major investor

Actis is one of the world’s leading investors in sustainable infrastructure. The company has a proven track record of building and operating large-scale renewable energy businesses in India. Actis introduced highly experienced industry-focused management teams and supported them with its global network and expertise, creating sustainability leaders in the energy field.

Actis has committed to invest up to $800 million in BluPine through the Energy 5 fund. This fund represents $6 billion in capital and focuses on investing in global energy transition opportunities. As such, BluPine will implement world-class governance standards, focusing on key areas such as health and safety, procurement, community skills training and biodiversity mitigation.

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