Sustainable infrastructure investor Actis announced today the launch of Leo Energies, a new renewable energy platform in India, targeting a portfolio of over 3GW of onshore wind, solar and battery storage assets.
The launch of the new platform comes as India continues to scale up its investments in clean energy, with the country aiming to reach 500 GW of installed renewable energy capacity by 2030. Earlier this year India approved new targets to reduce economy-wide emissions intensity by 47% and to achieve 60% of electric power capacity from non-fossil-based sources by 2035.
Actis, which was acquired by growth equity investor General Atlantic in 2024, operates as General Atlantic’s Sustainable Infrastructure business and invests in infrastructure assets across growth markets in Asia, Latin America, Central and Eastern Europe, the Middle East and Africa. The firm’s long life infrastructure strategy invests in operating brownfield infrastructure assets, focusing on operational enhancements that improve existing facilities, preventing the need for deploying large amounts of capital for new infrastructure. This strategy aims to provide investors with predictable, long-term income with moderate leverage and lower risk.
According to Actis, the new platform marks the company’s fourth iteration of its buy-and-build strategy in the Indian renewables market, following Ostro Energy, Sprng Energy, and its current renewable platform, BluPine Energy, launched in 2022.
The company said that the new platform has signed agreements to acquire approximately 650MWp of solar capacity, all of which is set to be operational at acquisition across five states, with the projects contracted under long-term power purchase agreements (PPAs) with a mix of central offtakers, state discoms and commercial & industrial customers.
Abhishek Bansal, Managing Director, Energy Infrastructure at Actis, said:
“Leo Energies continues a playbook we know exceptionally well – building right-sized, contracted Indian independent power producers with clear visibility and potential to generate compelling returns for our investors. The Indian market’s combination of auction-driven growth, a maturing C&I ecosystem, domestic financing depth and a well-established strategic buyer universe makes it well suited to this approach.”
