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Actis, an investor in renewable energy, has introduced a fresh clean energy venture in India called Leo Energies, targeting operation of over 3GW of solar PV, onshore wind and battery energy storage systems. This marks Actis’s fourth renewables platform in the nation, and it has secured agreements to purchase roughly 650MW of solar PV capacity that will be operational once the deal closes.
The solar portfolio is distributed among five states, according to Actis: Andhra Pradesh, Karnataka, Gujarat, Rajasthan and Tamil Nadu. These assets hold long-term power purchase agreements with state discoms and commercial and industrial offtakers.
For this platform, the company has also arranged to acquire an additional 50MWh of BESS. Actis characterized India’s renewable energy market as offering a deep and liquid deal environment. During the first half of the year, the Indian solar sector achieved record capacity additions, bringing 27GW of new PV capacity online, which represents a 49% increase compared with the same period last year.
Leo Energies’s launch comes after Actis’s efforts with the Ostro Energy and Sprng Energy platforms, sold in 2018 and 2022 respectively, as well as the BluPine Energy platform, which Actis continues to own. BluPine has exceeded 3GW of solar PV, wind and BESS capacity and might act as a sort of model for the Leo Energies initiative.
Abhishek Bansal, Actis’s managing director of energy infrastructure, stated that Leo Energies carries forward a strategy the firm understands very well, creating appropriately sized, contracted Indian independent power producers with evident visibility and the capacity to deliver attractive returns for its investors.
Although Actis did not detail its long-term intentions for the platform, Lucy Heintz, Actis’s head of energy infrastructure, observed that the company has invested over ten years in building platforms and selling them to top-tier buyers including Shell, GIP and Engie.
This news comes on the heels of several other renewable energy investments by Actis, such as the introduction of Yeltica Energy, a comparable renewable energy platform, in Mexico. Actis intends to expand that platform to over 2GW of solar PV, wind and BESS, and mentioned its goal to take part in tenders run by the state utility, the Comision Federal de Electricidad.
Interactive table based on the Store Companies dataset for this report.
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How the Market Splits Into Decision-Relevant Buckets
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Supply Footprint and Value Capture
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Who Wins and Why
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Leading Players and Strategic Archetypes
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Major integrated solar manufacturer
India's largest solar module manufacturer
Part of Adani Group, integrated manufacturing
Leading manufacturer, part of Tata Group
Major PV module and cell producer
Historical leader in solar manufacturing
Makes solar cells, modules, encapsulants
Module and cell manufacturer
Solar PV module manufacturer
Solar panel manufacturer and distributor
Manufactures solar modules and inverters
Solar panel manufacturer
Solar panel manufacturer
Solar panel manufacturer
Solar cell and module manufacturer
Major LED lighting products manufacturer
Leading electrical goods co, major LED player
Major manufacturer of LED lights and fixtures
Major player in LED lighting segment
LED lighting manufacturer
Manufactures LED displays and lighting
Indian subsidiary, major LED mfg in India
Manufactures LED lights and fixtures
Major Indian electrical brand, produces LEDs
LED lighting products manufacturer
Manufactures LED bulbs and lighting
Major player in consumer LED lighting
Leading LED lighting solutions provider
Manufactures LED lights under Finolex brand
Wires & cables major, also manufactures LEDs
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