Private equity firm Actis is in advance talks to acquire alternative power assets of Shapoorji Pallonji Group for about $200 million as the emerging market-focused investment firm looks to ramp up its renewable energy capacity in the country.
The transaction will be through its renewable energy platform, Spring Energy, where it has already invested close to $450 million. Actis is looking to expand the platform.
The deal is expected to include the sale of seven operational assets of SP Solar Energy and some under-construction ones with a total generation capacity of 400 MW, multiple sources with knowledge of the matter told ET.
Shapoorji Pallonji has mandated Credit Suisse to run a formal process to find a buyer, sources said. Read More
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