Actis launches 3 GW Indian renewables platform

Actis has launched Leo Energies, an Indian renewable-energy platform targeting a portfolio of more than 3 gigawatts of onshore wind, solar and battery-storage assets.

Leo Energies is the fourth platform created through Actis’ buy-and-build strategy in the Indian renewables market. The investment firm previously developed Ostro Energy and Sprng Energy and continues to expand BluPine Energy, which has grown beyond gigawatts of capacity since its launch in 2022.

Actis has deployed approximately $1.5 billion of equity in India’s energy sector and has built or operated almost 10 gigawatts of generation capacity.

Transactions covering approximately 160 MWp of generation and 50 MWh of battery storage have already closed. These include the acquisition of 110 MWp of generation assets and 50 MWh of storage projects from Indian clean-energy company TrueRE Oriana Power.

The projects are supported by long-term power-purchase agreements with central government-backed buyers, state electricity-distribution companies and commercial and industrial customers.

Managing director Abhishek Bansal

Leo Energies intends to expand through further acquisitions and participation in greenfield PPA auctions across India’s utility-scale and commercial renewables markets.

Actis said India’s growing electricity demand, domestic financing market and established base of potential strategic buyers supported the investment case for building another large independent power producer.

Abhishek Bansal, managing director for energy infrastructure at Actis, said the platform would focus on building contracted assets with the potential to deliver attractive investor returns.

India is targeting 500 GW of non-fossil-fuel electricity capacity by 2030, creating demand for additional renewable generation and storage. Actis expects Leo Energies to benefit from both government auctions and growing corporate demand for clean electricity.