Global investor Actis on Monday said it has acquired full ownership in Stride Climate Investments, a solar generation asset portfolio in the country from a fund managed by Macquarie Asset Management.
Actis will take charge of Stride’s 371MW (414MWp) portfolio of operating solar PV assets spread across 21 projects in 7 states, the majority of which are concentrated in Gujarat. Actis did not disclose the deal value.
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. With this acquisition, Stride joins BluPine Energy and Athena Renewables to become Actis’ third current energy generation platform in India.
“The acquisition of Stride aligns with Actis’ long life infrastructure investment approach. We believe Stride offers strong prospects to deliver cash yields to investors while also being in a dynamic, rapidly growing market.” said Adrian Mucalov, partner, head of long life infrastructure at Actis.