Actis eyes sale of its green energy platform Sprng Energy
POWER & RENEWABLE ENERGY

Actis eyes sale of its green energy platform Sprng Energy

UK-based private equity fund manager Actis, which invests exclusively in the world's growth markets, intends to divest its Indian renewable energy platform Sprng Energy in 2022, according to media sources.

Sprng Energy's portfolio amounts to 1,741.5 MW of total capacity, including 194 MW of solar parks in operation, as well as 750 MW of solar and 797.5 MW of wind projects that are currently being implemented, the report said.

According to Actis, the company will have between 2,000 MW and 2,400 MW of operating plants by the time of the platform's planned sale.


4th Indian Cement Review Conference 2021

17-18 March 

Click for event info


In 2018, Actis PE closed a similar transaction involving the sale of another Indian renewable energy platform, namely Renew Power and Ostro Energy Pvt Ltd.

Sprng Energy is an India based renewable energy platform set up by Actis, with a total commitment of Rs 3,285 crore of equity from Actis Energy Fund 4 to set up 2 GW renewable energy capacity (solar and wind), which is 1.1% of the 175 GW target set up by the Ministry of New and Renewable Energy (MoNRE) of renewable energy capacity by 2020.

The platform has 750 MW (AC) solar projects and 797.5 MW of wind power projects under execution, and 194 MW (AC) solar projects under operation, cumulating to a total of 1741.5 MW projects in the country.

Image Source


Also read: Rise in renewable energy M&A deals in India

UK-based private equity fund manager Actis, which invests exclusively in the world's growth markets, intends to divest its Indian renewable energy platform Sprng Energy in 2022, according to media sources. Sprng Energy's portfolio amounts to 1,741.5 MW of total capacity, including 194 MW of solar parks in operation, as well as 750 MW of solar and 797.5 MW of wind projects that are currently being implemented, the report said. According to Actis, the company will have between 2,000 MW and 2,400 MW of operating plants by the time of the platform's planned sale.4th Indian Cement Review Conference 202117-18 March Click for event info In 2018, Actis PE closed a similar transaction involving the sale of another Indian renewable energy platform, namely Renew Power and Ostro Energy Pvt Ltd. Sprng Energy is an India based renewable energy platform set up by Actis, with a total commitment of Rs 3,285 crore of equity from Actis Energy Fund 4 to set up 2 GW renewable energy capacity (solar and wind), which is 1.1% of the 175 GW target set up by the Ministry of New and Renewable Energy (MoNRE) of renewable energy capacity by 2020. The platform has 750 MW (AC) solar projects and 797.5 MW of wind power projects under execution, and 194 MW (AC) solar projects under operation, cumulating to a total of 1741.5 MW projects in the country. Image Source Also read: Rise in renewable energy M&A deals in India

Next Story
Building Material

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...

Next Story
Building Material

Prism Johnson's cement division goes live with Ramco ERP Suite

Prism Johnson has successfully gone live with the Ramco ERP Suite for its Cement Division. This milestone marks a significant step in Prism Johnson's digital transformation journey, leveraging Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency. The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM). These solutions enable Prism Johnson to achieve seamless integration across its business and wo..

Next Story
Infrastructure Urban

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000