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Actis looking to acquire Engie’s Indian solar power business : Report

Actis is reportedly looking to acquire Engie’s solar power business in India.

According to the Mint, Engie has hired Rothschild & Co to help find a buyer for its Indian solar power portfolio. If finalised the deal would be one of the biggest acquisitions in the renewable energy segment.

Recently the London-based private equity firm Actis’s renewable energy arm Sprng Energy acquired 194 MW of operating solar portfolio from Shapoorji Pallonji.

A source close to the development said to the publication that “Actis is looking at acquisitions to expand its green energy portfolio in India and has been eyeing Engie’s assets that has been looking for growth capital. Shapoorji Pallonji group’s solar assets were the first acquisition by Sprng Energy.”

Engie has 810MW of solar power assets and 280MW of installed wind power capacity in India. The company intends to set up 2GW of solar capacity in India by 2019.

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