Actis plans $2-B India renewable energy platform ‘Leo Energies’: report

London-headquartered private equity firm Actis is planning to invest approximately USD 2-B to set up a new renewable energy business in India. The new entity, named Leo Energies, will focus on the acquisition and development of solar, wind, and battery energy storage assets with a combined capacity exceeding 3 gigawatts.This initiative represents the fourth clean energy platform established by Actis in India, following a strategy of building infrastructure from a small base to create businesses with growth pipelines and strong cash flows for potential future strategic exits.Actis previously developed and divested other energy platforms in the region, including the sale of Ostro Energy to ReNew Power for USD 1.55-B in 2018 and the sale of Sprng Energy to Shell for USD 1.55-B in 2022. The firm is currently managing an exit process for its third renewable energy platform, BluPine Energy.