Actis launches fourth India renewable platform Leo Energies, targets 3 GW-plus portfolio

Mumbai: Global investment firm Actis has launched its fourth renewable energy platform in India - Leo Energies, as it seeks to build a portfolio of more than 3 GW of solar, wind and battery storage capacity, the UK based firm said on Wednesday.

The new platform builds on Actis’ buy-and-build strategy in India, following its earlier renewable energy platforms Ostro Energy and Sprng Energy, as well as BluPine Energy, which was launched in 2022 and has already crossed 3 GW of capacity.

“Leo Energies continues a playbook we know exceptionally well – building right-sized, contracted Indian independent power producers with clear visibility and potential to generate compelling returns for our investors,” said Abhishek Bansal, managing director, energy infrastructure at Actis.


Leo Energies has signed agreements to acquire about 650 MWp of solar capacity, with all the projects expected to be operational at the time of acquisition. So far, around 160 MWp of generation capacity and 50 MWh of battery energy storage projects have closed, it said.

This includes the acquisition of 110 MWp of solar generation capacity and 50 MWh of battery storage projects from TrueRE Oriana Power, an integrated clean-energy platform with operations spanning solar, battery storage and green fuels.

The approximately 650 MWp portfolio is spread across Rajasthan, Tamil Nadu, Gujarat, Karnataka and Andhra Pradesh. The projects are backed by long-term power purchase agreements with a mix of central government offtakers, state distribution companies and commercial and industrial customers.

Leo Energies has a pipeline of further acquisitions as well as greenfield projects emerging from power purchase agreement auctions, it added.

“India is one of the world’s most exciting energy markets in our view, and Leo Energies reflects our conviction that the opportunity here remains very strong,” said Lucy Heintz, head of energy infrastructure at Actis.

Actis has invested about $1.5 billion of equity capital in India’s energy sector and has built or operated nearly 10 GW of installed generation capacity, making it one of the largest foreign private investors in the country’s renewable energy sector.

The firm’s previous platforms have also attracted strategic buyers. Ostro Energy was acquired by ReNew Power, while Sprng Energy was acquired by Shell. Actis has also developed BluPine Energy as a scaled renewable energy platform.

The country’s renewable energy capacity reached 251 GW in 2025, up from 176 GW in 2023, according to the International Renewable Energy Agency. India is targeting 500 GW of non-fossil fuel capacity by 2030.