Actis buys 49% stake in Shapoorji Pallonji energy unit

01 Jul 2022 CW Team

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.

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