+
Actis raises over $4.7 bn, plans $850 mn investment in India
POWER & RENEWABLE ENERGY

Actis raises over $4.7 bn, plans $850 mn investment in India

With more than $4.7 billion of fund commitments and co-investment, Actis aims to use about $6 billion of investable capital in this vintage, as per the company statement.

Actis, the global infrastructure investor, has achieved fundraising for Actis Energy 5 (AE5).

The fund intends to deploy $850 million Of the total amount raised in India in the coming four to five years. Actis has a significant track record of funding in Indian renewables, where it has financed $800 million in the past seven years to set up Ostro Energy and Sprng Energy with 3 GW of solar and wind capacity.

The LP (limited partner or investor) base of the new fund involves pension funds, insurance firms, sovereign wealth funds, endowments and other investors from across the world, it added.

Sanjiv Agarwal, Partner Actis & Head of Energy for Asia, told the media that they are happy to have completed this fundraising. They are dedicated to the Indian renewable sector and will remain to be a notable investor in Indian green energy.

The UK based Actis had marketed its clean energy platform in India - Ostro Energy to ReNew Power Ventures in 2018 at an enterprise cost of $1.5 billion. Currently, Actis plans to market its India clean energy platform Sprng Energy and has mandated Bank of America to find a purchaser.

After it successfully sold its clean energy platform Ostro Energy three years back, Actis has obligated Bank of America to officially begin a formal process to divest Sprng Energy for an enterprise valuation of $2.5-$2.75 billion.

Actis Fund 4 installed Sprng Energy with an equity commitment of $450 million in March 2017 for renewable sector investments in India. The platform presently has an operational portfolio of 1.7 GW (750 MW of solar and 797 MW of wind energy projects). Additionally, 194 MW of solar power projects are under construction.

India has drawn investments of about Rs 1.32 lakh crore in the renewable energy sector in the last three years since 2017. Presently India’s established renewable energy capacity is approximately 95 GW comprising 40.5 GW of solar power.

Image Source

With more than $4.7 billion of fund commitments and co-investment, Actis aims to use about $6 billion of investable capital in this vintage, as per the company statement. Actis, the global infrastructure investor, has achieved fundraising for Actis Energy 5 (AE5). The fund intends to deploy $850 million Of the total amount raised in India in the coming four to five years. Actis has a significant track record of funding in Indian renewables, where it has financed $800 million in the past seven years to set up Ostro Energy and Sprng Energy with 3 GW of solar and wind capacity. The LP (limited partner or investor) base of the new fund involves pension funds, insurance firms, sovereign wealth funds, endowments and other investors from across the world, it added. Sanjiv Agarwal, Partner Actis & Head of Energy for Asia, told the media that they are happy to have completed this fundraising. They are dedicated to the Indian renewable sector and will remain to be a notable investor in Indian green energy. The UK based Actis had marketed its clean energy platform in India - Ostro Energy to ReNew Power Ventures in 2018 at an enterprise cost of $1.5 billion. Currently, Actis plans to market its India clean energy platform Sprng Energy and has mandated Bank of America to find a purchaser. After it successfully sold its clean energy platform Ostro Energy three years back, Actis has obligated Bank of America to officially begin a formal process to divest Sprng Energy for an enterprise valuation of $2.5-$2.75 billion. Actis Fund 4 installed Sprng Energy with an equity commitment of $450 million in March 2017 for renewable sector investments in India. The platform presently has an operational portfolio of 1.7 GW (750 MW of solar and 797 MW of wind energy projects). Additionally, 194 MW of solar power projects are under construction. India has drawn investments of about Rs 1.32 lakh crore in the renewable energy sector in the last three years since 2017. Presently India’s established renewable energy capacity is approximately 95 GW comprising 40.5 GW of solar power. Image Source

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?