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.

Also read: ADB invests $50 million in Actis Fund to accelerate clean energy transition in Asia and the Pacific 

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.

Canada’s six year old carbon pricing system is facing uncertain times. Recently, 14 oil and gas CEOs and opposition leader Pierre Poilievre have called for its repeal. This raises questions about the future of Canada’s climate policy and the Pathways Alliance carbon capture project.

Calls for Repeal

The carbon pricing system came into the picture in 2019. The system aimed to reduce pollution by incentivizing heavy industries to cut carbon emissions.

As per the current law, industries must pay or buy credits to offset emissions that exceed a certain threshold. Moreover, the pricing system is designed so that it gets progressively stricter. This implies that the carbon price increases periodically.

However, Pierre Poilievre, the Conservative leader, has vowed to repeal the federal carbon pricing system if elected. He believes that individual provinces should decide their carbon regulations. He plans to replace the system with tax credits to encourage companies to reduce pollution without imposing a carbon price.

Potential Impact on the Pathways Alliance Project

The Pathways Alliance, which represents Canada’s six largest oil sands producers, has also criticized the federal carbon pricing scheme. The group proposed a C$16 billion carbon capture and storage project to reduce greenhouse gas emissions from the oil sands industry. However, they argue that the current carbon pricing system makes the project less competitive.

If the federal carbon pricing system is repealed, it could cast doubt on the Pathways Alliance project’s future. Industry leaders believe that a more favorable regulatory environment is needed to grow Canada’s oil sands and reduce emissions.

Also read: EIB Grants €405 Million to Energa for Power Grid Expansion in Poland

The Road Ahead for Canada’s Carbon Policy

Canada is a critical juncture where it needs to balance economic growth with climate goals. Some experts argue for the repeal of the carbon pricing system, and others like newly sworn in Prime Minister Mark Carney stand by the importance of the pricing system to maintain Canada’s competitiveness.

Moreover, the policies and actions taken by other countries is adding on to Canada’s dilemma. For instance, countries like UK re introducing carbon levies. Canada must keep pace with international climate policies. The decision to repeal the pricing system or not will have a big impact on the country’s ability to meet climate goals.