Actis is going to invest $850 Million to build these platforms.
Actis is a private equity firm investing in areas where is there are financial profitability and social benefits for everyone including the investors and community. Actis currently invested in two platforms in India, which are also working on green energy.
The firm announced its investment of $850 Million on both renewable energy platforms and Commercial platforms.
The commercial platform also comes under the green energy platform. Because they plan to focus on changing the demand of the industry’s energy consumption with renewable energy.
Most of the funding is on wind and solar energy resources, about $600 Million. The rest is for the industrial and commercial sector, where the implementation happens.
Know about Actis
Actis is a global firm, which largely invests in Africa, Asia, and America. However, the main office is in London. The current value of the firm’s assets is $7.6 Billion.
Actis’s first involvement in India was in 2013 when they invested in Symbiotec Pharmalab. Actis surely has been through a long journey, starting as a spin of the company CDC Group back in 2004.
Furthermore, the firm acquired two renewable stations, one in Brazil and the other in Chile. They are 137MW windpower and 110MW solar plant respectively. Prior to this acquisition, the firm mostly invested in buy and build, rather than energy sources.
Potential in India.
As of January 2021, India’s highest renewable energy is from Solar of 38.79GW. Solar is followed by Wind energy and Biopower with 38.68GW and 10.31 GW respectively.
There is a radical increase in renewable energy in India, in all sectors. The government aspires to have 450GW capacity in its renewable energy sources, by 2030.
According to the sources who talked to Mint, “While Actis plans to make an equity investment of around $600 million for the new firm that will set up grid-connected wind and solar projects, the other new firm that will cater to the C&I segment may see an equity investment of around $250 million,”
The renewable energy capacity in India has increased by 1.73 in four years. Solar capacity increased by 10%. The Solar sites are fully running in Kurnool and Badhla, while Pavagada of 2,000MW capacity is being constructed at the moment. Pavagada is currently the largest solar park in India.
Actis is looking to find a safe place for their renewable resources construction in India. Their platform name is Sprng Energy, with 800MW renewable energy capacity. Actis always invests in emerging areas where there is real potential. With this pace, India will reach its target before 2030.
Source: techstory
