Sprng Energy

Sprng Energy supplies solar and wind power to electricity distribution companies in India. Established by Actis in 2017 with an initial seed asset of 330MWp, Sprng has grown to encompass more than 2. 9gigawatts-peak[1] (GWp) of assets (2.1GWp operating and 0.8 GWp contracted) with a further 7.5GWp of renewable energy projects in the pipeline, which will support the Company’s aim to provide a meaningful contribution to the 500GW of renewable energy capacity the Indian government is targeting by 2030.

The swift scaling of the platform over the past five years has been by guided by Actis’ strategy and hands-on operational experience in building world-class, next generation sustainable infrastructure assets, as well as its local experience with the creation and sale of Ostro Energy in 2017. The firm’s energy infrastructure team has invested in over 70 renewable energy projects worldwide to date, generating approximately 11GW of power globally*. This makes Actis one of the world’s largest owner-operators of renewable power assets.

In April 2022, Actis announced an agreement to sell Sprng Energy to Shell, with the transaction closing in August 2022.

[1] Equivalent to 2.3 gigawatts (GW) based on actual design of solar parks

*As at August 2022