India's Renewable Sector Sees Major Deal: Actis Acquires 371MW Portfolio
Actis, a global energy investor, has acquired Stride Climate Investments, strengthening its renewable energy footprint in India. Stride’s portfolio consists of 371MW of solar assets across 21 projects. Actis continues to invest in India’s rapidly growing green energy market.Actis has acquired Stride Climate Investments, expanding its renewable energy footprint in India. With 371MW of operational solar capacity, this acquisition solidifies Actis’ position in India’s green energy sector, aligning with the country’s renewable energy targets for 2030.
India Green Energy Market: Actis Buys Stride Climate Investments to Make Renewable Mark
Actis, the preferred global energy investor, has deepened its presence in India's fast-growing green energy market with the acquisition of a 100% equity interest in Stride Climate Investments (Stride), a renewable energy platform. The acquisition solidifies Actis' Indian renewable energy portfolio and reaffirms its focus on clean energy and sustainable investing in India.
Stride's portfolio has 371MW (414MWp) producing solar photovoltaic (PV) assets under 21 projects in seven states, with major presence in Gujarat. The assets are over ten years old with long-term power purchase agreement (PPAs) with government and private sector consumers. Including the acquisition will result in Actis' current platforms of BluPine Energy and Athena Renewables becoming the dominant player in the Indian renewables business.
India's renewable energy sector has witnessed spectacular growth, powered by the vision of the government to take the country on the renewable energy path. India has charted its course with a vision to generate 50% of electricity through renewables by 2030, and with it come enormous investment opportunities. Actis, having already tasted India's renewable story through its previous investment in Ostro Energy and Sprng Energy, is best poised to ride the wave.
Stride's acquisition is an addition to Actis' low debt company and operating history energy infrastructure play. With its proven track record and growth prospects, Actis will be set to define the future of clean energy in India. Actis has already spent over $7.1 billion in Asia's energy sector on a renewable energy strategy that entails 5.5GW of renewable capacity.
The investment aligns with India's shift to energy, which is gaining traction as the nation moves towards its renewable target. The deal also strengthens Actis' renewable energy platform and sets it to drive value in India's green energy growth opportunity.
Source: Actis
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