Information on the target
Leo Energies is the latest renewable energy platform launched by Actis, a prominent growth market investor focused on sustainable infrastructure. This new venture aims to develop a portfolio exceeding 3GW of onshore wind, solar, and battery storage assets in India. Leo Energies represents the fourth phase of Actis' successful buy-and-build strategy in the Indian renewable energy sector, following the achievements of Ostro Energy, Sprng Energy, and the ongoing expansion of BluPine Energy, which has already surpassed 3GW of capacity since its inception in 2022.
With a commitment to operational excellence, Leo Energies has already signed agreements to acquire approximately 650MWp of solar capacity, all of which is set to be operational upon acquisition. This includes a diverse range of projects across five Indian states—Rajasthan, Tamil Nadu, Gujarat, Karnataka, and Andhra Pradesh—contracted under long-term power purchase agreements (PPAs) with various offtakers, including central entities, state distribution companies, and commercial and industrial customers.
Industry overview in the target’s specific country
The Renewable Energy Equipment & Services (NEC) industry in India is experiencing unprecedented growth, positioning the country as a global leader in the renewable energy sector. Over the past five years, India has witnessed the third-largest increase in power generation capacity worldwide, with a remarkable 83% of power sector investments directed towards clean energy in 2024. This trend underscores the country's commitment to transitioning towards sustainable energy sources.
In 2025, India ranked third globally in terms of installed renewable energy capacity, achieving a total of 251GW—up from 176GW in 2023—marking a growth of over 40% in just two years. This rapid expansion is part of India's ambitious goal to reach 500GW of non-fossil fuel capacity by 2030. The International Energy Agency (IEA) projects that India will emerge as the second-largest growth market for renewables globally by 2030, with capacity expected to increase 2.5 times over the next five years.
The commercial and industrial (C&I) segment of the renewable energy market in India is also expanding swiftly, driven by a surge in corporate demand for clean energy solutions. This growth is supported by a developing ecosystem of reliable off-takers, creating a robust and liquid deal environment for platforms like Leo Energies. The increasing focus on sustainability among corporations is further propelling the demand for renewable energy, making it an attractive sector for investment.
As the Indian renewable energy landscape continues to evolve, the combination of auction-driven growth, a maturing C&I ecosystem, and the depth of domestic financing presents significant opportunities for inves…