Sustainable infrastructure investor Actis on Monday said it acquired a 100% stake in Stride Climate Investments in India.
As per the deal, Actis will take charge of Stride’s 371MW portfolio of operating solar PV assets spread across 21 projects in seven states, the majority in Gujarat. The acquisition size was not disclosed by the company.
Actis has deployed more than $7.1 billion in Asia since inception across different strategies, and as a leading energy investor, has built or operated more than 8GW of installed capacity in the region, including more than 5.5GW of renewables.
Stride is the third energy generation platform in India acquired by Actis after BluPine Energy and Athena Renewables.
Actis is a global investor that funds and builds sustainable infrastructure companies.
“The acquisition of Stride aligns with Actis’ long-life infrastructure investment approach. The business has a 10-year operating history, compelling cash generation and low existing leverage. We believe Stride offers strong prospects to deliver cash yields to investors while also being in a dynamic, rapidly growing market,” Adrian Mucalov, Partner, Head of Long Life Infrastructure at Actis, said.
