Actis, a private capital investor has revealed that its Actis Long Life Infrastructure Fund (ALLIF) has completed the acquisition of two solar projects from Acme Solar in India totaling 400 MW.
These ventures are based in the respective Indian states of Andhra Pradesh and Madhya Pradesh.
ALLIF’s investment plan aims at long-term, optimizing yield through value generation, massive operating renewable assets.
Renewable energy is a critical part of India’s capability to generate energy. The total renewable capacity in India has doubled over the past five years, from 32GW to 84GW powered by solar and wind. The demand for energy is expected to grow by 6-7 per cent per year.
“India is one of the fastest growing solar markets in the world and the Government’s commitment to increasing renewable energy production continues to create attractive investment opportunities for our ALLIF and Energy funds. We will continue to focus on M&A and PPA auctions in India.”Sanjiv Aggarwal, partner of Actis responsible for its energy and infrastructure business in the region.
“India has a lot of potential for solar power and Acme is very well poised to tap this potential and create value for utilities and consumers by offering day time power at very low cost. Asset divestment to long term investors like Actis helps unlock equity value and aid our growth plans in India.”Manoj Kumar Upadhyay, founder and chairmen Acme.