Actis Acquires Stride, Expanding Solar Portfolio in India

Actis, a global sustainable infrastructure investor, has acquired a 100% equity interest in Stride Climate Investments (Stride), an Indian solar generation asset portfolio. The deal grants Actis ownership of Stride's 371MW portfolio of 21 solar projects located in seven states, primarily in Gujarat.

Expanding Solar Footprint in India

The Stride portfolio has operated for nearly a decade and is based on long-term, pay-as-you-go Power Purchase Agreements (PPAs). A range of off-takers, from central and state governments to private sector entities, underpin the agreements. The distributed asset base of the portfolio contributes to its stability and appeal, complementing India's increasing appetite for renewable energy.

Actis Fortifies Footing in India's Renewable Energy Market

Actis, a leader in international energy investments, boasts a robust Asian track record, having invested in excess of $7.1 billion in various strategies. The company has developed or operated over 8GW of capacity in the region, with more than 5.5GW from renewables. The acquisition of Stride will further cement Actis’ role as a leader in the Indian renewable energy market.

With Stride added, Actis has three energy generation platforms in India, alongside BluPine Energy and Athena Renewables. This strategic expansion is part of Actis’ broader plan to invest in sustainable infrastructure that supports global energy transitions.

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Strategic Investment in India’s Growing Renewable Market

Adrian Mucalov, Partner and Head of Long Life Infrastructure at Actis, said, "The acquisition of Stride aligns nicely 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.”

India can achieve its ambitious renewable energy goals, with the government committed to 50% renewable electricity by 2030. This rapid transformation offers plenty of investment opportunities for like-minded players in Actis' league, who are well placed to meet India's clean energy requirements.