Actis to acquire Engies India solar power assets

Private equity firm Actis is looking to purchase French Engie′s Indian solar power business. If finalised, the deal could be one of the largest in the renewable energy space. The London-based firm's move comes after its acquisition of Shapoorji Pallonji′s 194MW solar assets for $200 million in March. Actis had bought Shapoorji Pallonji's solar power assets through its renewable energy platform Sprng Energy. With 115.3GW of installed capacity, Engie is the world′s largest electricity generator outside government control. Of this, 22 per cent comes from renewable sources of energy. In India, Engie has 810MW of solar power assets and 280MW of installed wind power capacity. The company intends to set up 2GW of solar capacity in India by 2019.