Actis starts sale process for Sprng Energy, to appoint i-banker

Private equity firm Actis Llp has started the sale process of its renewable energy platform in India—Sprng Energy—and will be shortly appointing a banker for the proposed sale. Sprng Energy is expected to have an operational portfolio of 1.7 gigawatt (GW) by year end and has 400 MW under construction. It has a 2.5 GW pipeline. This comes in the backdrop of Actis' plans to invest USD 850 million in India to build two green energy platforms.The first platform will focus on setting up grid-connected solar and wind power parks while the second will cater to the growing commercial and industrial (C&I) segment. These investments will be made from Actis Energy 5 LP fund.