Actis, a London-based infrastructure investor focused on growth markets, has launched Leo Energies, a new renewable energy business in India. Its goal is a portfolio of more than 3 GW of onshore wind, solar and battery storage, and it is the fourth such platform that Actis has assembled in India under its buy-and-build strategy. Actis announced the platform on 30 September 2026.

To start that portfolio, Leo Energies has signed agreements to acquire about 650 MWp of solar capacity, all of which is set to be operational at acquisition. Of this, about 160 MWp of generation and 50 MWh of BESS projects have already closed, including 110 MWp of generation and the entire 50 MWh of BESS, which Leo Energies has bought from TrueRE Oriana Power, an Indian clean energy platform that is active in solar, battery storage and green fuels.

These sites, which run from Rajasthan and Gujarat down to Karnataka, Andhra Pradesh and Tamil Nadu, each have a long-term power purchase agreement (PPA). The buyers are central offtakers, state discoms and commercial and industrial (C&I) customers, which means that Leo Energies has contracted income from the outset. From there, Leo Energies intends to grow in the utility and C&I segments, and further acquisitions and greenfield PPA auctions are already in its near-term pipeline.

The model is a familiar one for Actis. It built Ostro Energy and Sprng Energy the same way, and its current platform, BluPine Energy, has crossed 3 GW since its launch in 2022. Lucy Heintz, Head of Energy Infrastructure at Actis, said: "India is one of the world's most exciting energy markets in our view, and Leo Energies reflects our conviction that the opportunity here remains very strong." Abhishek Bansal, Managing Director, Energy Infrastructure at Actis, said: "Leo Energies continues a playbook we know exceptionally well – building right-sized, contracted Indian independent power producers with clear visibility and potential to generate compelling returns for our investors."

Bansal added that auction-driven growth, a maturing C&I market and the depth of domestic financing have made India well suited to this approach. That market has grown fast. India had 176 GW of renewable capacity installed in 2023 and 251 GW by 2025, according to IRENA, which placed it third worldwide. There is more to come, since India is working toward 500 GW of non-fossil fuel capacity by 2030 and the IEA expects its renewable capacity to multiply 2.5 times over five years.

Actis has backed India's energy sector with about $1.5 billion of equity to date, and it has built or operated close to 10 GW of generation capacity there. By its own account, that makes it one of the largest foreign private investors in the sector.