Actis buys 49% stake in Shapoorji Pallonji energy unit
OIL & GAS

Actis buys 49% stake in Shapoorji Pallonji energy unit

Actis has announced it is starting a power generation company that will explore gas-fired power projects in Southeast Asia.

Actis announced the purchase of a 49 percent stake in the 220-megawatt (MW) combined cycle gas turbine power plant owned by the Shapoorji Pallonji (SP) company in the Bangladeshi district of Bhola.

By 2028, Bridgin Power will have installed at least 1.2 gigawatts (GW) of gas power capacity, thanks to the Actis Energy 5 equity contribution totaling $400 million. The first step in that approach is the Bhola plant.

“We’re excited to be launching a business spanning Southeast Asia, a region which has increasing power demand and where we can leverage Actis’ proven strategy of aggregating energy assets into a scalable regional platform, which enables a just and equitable energy transition," said Sanjiv Aggarwal, partner, energy infrastructure at Actis.

"The acquisition of the Bhola asset sets us on our path to create an energy platform of scale, using natural gas as a bridge to a sustainable and low carbon future," said Dennis Foo, Group Chief Executive Officer, Bridgin Power.

Actis has announced it is starting a power generation company that will explore gas-fired power projects in Southeast Asia. Actis announced the purchase of a 49 percent stake in the 220-megawatt (MW) combined cycle gas turbine power plant owned by the Shapoorji Pallonji (SP) company in the Bangladeshi district of Bhola. By 2028, Bridgin Power will have installed at least 1.2 gigawatts (GW) of gas power capacity, thanks to the Actis Energy 5 equity contribution totaling $400 million. The first step in that approach is the Bhola plant. “We’re excited to be launching a business spanning Southeast Asia, a region which has increasing power demand and where we can leverage Actis’ proven strategy of aggregating energy assets into a scalable regional platform, which enables a just and equitable energy transition, said Sanjiv Aggarwal, partner, energy infrastructure at Actis. The acquisition of the Bhola asset sets us on our path to create an energy platform of scale, using natural gas as a bridge to a sustainable and low carbon future, said Dennis Foo, Group Chief Executive Officer, Bridgin Power.

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?