Actis launches power biz after buying 49% stake in Shapoorji Pallonji unit
Actis is launching a power generation business that will pursue gas-fired power projects in Southeast Asia, said the investor in sustainable infrastructure on Wednesday.
Actis announced Bridgin Power following its acquisition of a 49 per cent stake in the Shapoorji Pallonji (SP) group’s 220-megawatt (MW) combined cycle gas turbine power plant in the Bhola region of Bangladesh.
The SP group put the plant on sale in 2020 as part of a group debt-reduction exercise.
Bridgin Power will tap into a total commitment of $400 million of equity from the Actis Energy 5 Fund to set up at least 1.2 gigawatts (GW) of gas power capacity by 2028, it said. The Bhola plant is the first step in that direction.
