Actis Engages Standard Chartered for $2 Billion BluPine Energy Sale
Actis picks StanChart to kick off $2 bn sale of BluPine
The Economic Times
Image: The Economic Times
UK-based investment firm Actis has selected Standard Chartered Bank to facilitate the sale of BluPine Energy, valued at $2 billion. BluPine, a significant player in India's renewable energy sector with a capacity of 4 gigawatts, has been under consideration for sale for over a year, reflecting ongoing activity in the renewable energy market.
- 01Actis has valued BluPine Energy at $2 billion.
- 02BluPine Energy has a renewable capacity of 4 gigawatts.
- 03The sale process has been in consideration for over a year.
- 04Standard Chartered Bank will act as the advisor for the sale.
- 05The renewable energy sector is seeing steady deal activity.
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Actis, a UK-based investment firm, has appointed Standard Chartered Bank to assist in the sale of BluPine Energy, which is valued at $2 billion. BluPine Energy is a prominent renewable energy platform in India, boasting a capacity of 4 gigawatts. The decision to sell has been in the works for more than a year, with the formal sale process now completed. Actis has a history of successful exits in the renewable sector, previously selling Ostro Energy to ReNew and Sprng Energy to Shell. The ongoing activity in the renewable energy market is fueled by private equity investors looking for timely exits. Notably, Shell is also divesting Sprng Energy, while Macquarie has sold Vibrant Energy to Inox Clean Energy, indicating a trend of asset sales among major players in the sector.
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The sale of BluPine Energy could lead to increased investments in India's renewable energy sector, potentially creating more jobs and enhancing energy sustainability.
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