Actis’ move comes after its acquisition of Shapoorji Pallonji’s 194MW solar assets for $200 million in March.
Private equity firm Actis is looking to purchase French Engie’s Indian solar power business, Mint reported.
London-based Actis’ move comes after its acquisition of Shapoorji Pallonji’s 194MW solar assets for $200 million in March.
Engie has hired Rothschild & Co to help find a buyer for its solar power portfolio in India, the report said.
If finalised, the deal could be one of the largest in the renewable energy space.
Moneycontrol could not independently verify the story.
“Actis is looking at acquisitions to expand its green energy portfolio in India and has been eyeing Engie’s assets that has been looking for growth capital. Shapoorji Pallonji group’s solar assets were the first acquisition by Sprng Energy,” a source told Mint.
Actis had bought Shapoorji Pallonji’s solar power assets through its renewable energy platform Sprng Energy.
With 115.3GW of installed capacity, Engie is the world’s largest electricity generator outside government control. Of this, 22 percent comes from renewable sources of energy.
In India, Engie has 810MW of solar power assets and 280MW of installed wind power capacity. The company intends to set up 2GW of solar capacity in India by 2019.
Engie India’s manager Malcolm Wrigley declined Mint’s request for comment, while an Actis spokesperson is yet to respond.
Source: moneycontrol
