Global infrastructure investor Actis has agreed to sell Solenergi Power Private Limited, one of India’s largest renewable energy companies and the flagship company for its Sprng Energy platforms (Sprng), to Shell Overseas Investments B.V (Shell) for $1.55 billion.
Sprng Energy supplies solar and wind power to electricity distribution companies in India. The firm’s energy infrastructure team has invested in over 70 renewable energy projects worldwide to date, generating approximately 11GW of power globally.
Sprng is an Actis Energy 4 fund investment. Last year, Actis announced its latest fund, Actis Energy 5, closed with $6 billion of investable capital, which will be used to mobilise further capital towards the global energy transition.
With an initial seed asset of 330MWp, Sprng has grown to encompass more than 2. 9 gigawatts-peak (GWp) of assets (2.1GWp operating and 0.8 GWp contracted) with a further 7.5GWp of renewable energy projects in the pipeline.
Sanjiv Aggarwal, Partner, Energy Infrastructure at Actis, said, “Sprng is a best-in-class energy platform delivering clean, reliable power to millions of people across India. We remain committed to the Indian market and its ecological transition, and we hope to deploy a further $1 billion in the region by the end of 2026.”
Actis is a real assets focused fund and is determined on sectors such as power, roads, real estate and digital infrastructure. The private equity investor is said to be looking to make investments of up to $400 million by acquiring operating road assets in India.
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