Actis picks Standard Chartered to kick off $2 billion sale of BluPine

New Delhi: UK-based Actis has picked Standard Chartered Bank to advise on the sale of BluPine Energy, on which it has put a $2 billion price tag, according to sources aware of the matter.

BluPine Energy is among the large renewable energy platforms incubated by Actis in India, with a capacity of 4 gigawatts. Actis previously incubated and sold Ostro Energy to ReNew and Sprng Energy to Shell, making its amongst the most successful renewable energy foreign investors in the country.

The sale of BluPine Energy has been under consideration for more than a year. ET first reported in July last year that Actis was considering the sale of the company.


BluPine had planned to commission certain projects before formally launching the sale process, which has now been completed, the people said.

Actis and Standard Chartered Bank did not respond to ET’s queries until press time.

Deal activity in the renewable energy sector has remained steady, driven in part by private equity investors seeking exits within defined timelines.

Shell has put Sprng Energy on the block, three years after acquiring it from Actis, as it shifts focus to its core oil exploration business. Macquarie recently sold Vibrant Energy to Inox Clean Energy. Global Infrastructure Partners-backed Veena Energy has also been put up for sale, with investors competing for the asset, ET reported in January.