Actis acquires 194 MW solar portfolio

Sprng Energy has acquired a 194 MW operational solar portfolio from Shapoorji Pallonji Infrastructure Capital (SP Infra). Sprng Energy is an India-focused renewable energy arm of London-based investor Actis. Shapoorji Pallonji is a conglomerate with headquarters in Mumbai.

Sprng Energy will build and operate more than 2GW of wind and solar projects in India. The company has a total equity commitment of US$475 million.

The company has around 450 MW of operating projects in the country and also developing 1,450 MW of wind and solar projects.