Azure Power, 3 others looking to bid for Actis-owned Sprng Energy

NYSE-listed Azure Power, Macquarie, KKRand ReNew Power are among players weighing a bid for private equity firm Actis-owned renewable energy company, SprngEnergy, according to multiple people aware of the matter.

A successful bidder would have to cough up $1 billion or more to buy Actis’s stake in Sprng Energy, according to sources. The company also has $1 billion of debt, taking the enterprise value of the transaction to over $2 billion.