Actis has launched Leo Energies, a renewable energy platform in India that will target a portfolio of more than 3 GW of onshore wind, solar and battery storage assets.
As part of the launch, Leo Energies has signed agreements to acquire around 650 MWp of solar capacity across Rajasthan, Tamil Nadu, Gujarat, Karnataka and Andhra Pradesh. All the projects are expected to be operational at the time of acquisition and are backed by long-term power purchase agreements (PPAs) with central offtakers, state discoms and commercial and industrial customers. In addition, around 160 MWp of generation capacity and 50 MWh of battery energy storage capacity have already been acquired and closed. This includes 110 MWp of generation capacity and 50 MWh of BESS acquired from TrueRE Oriana Power. The platform also has further acquisitions and greenfield PPA auctions in sight as part of its near-term pipeline.