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

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