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Actis Considers $1.4 Billion Exit from BluPine Energy Amid India’s Renewables M&A Boom

UK-based private equity firm Actis is exploring the sale of up to 100% of its stake in BluPine Energy, a renewable energy platform it founded four years ago with an $800 million commitment. The potential deal could value BluPine at $1.3–1.4 billion (Rs11,138–Rs12,000 crore). Actis has reportedly initiated discussions with several strategic investors and appointed advisors for the transaction. If completed, this would mark Actis’ third major renewable energy exit in India, following the sale of Ostro Energy to ReNew Power in 2018 and Sprng Energy to Shell for $1.55 billion in 2022.

BluPine’s sale comes during a flurry of M&A activity in India’s renewable energy sector. Notably, ONGC NTPC Green acquired Ayana Renewable Power (4.1 GW portfolio) for Rs19,500 crore, and JSW Neo Energy bought Mytrah Energy’s successor O2 Power (4.7 GW portfolio) for Rs12,468 crore. Actis’ potential exit underscores the growing interest in large-scale renewable platforms as India ramps up clean energy deployment to meet its climate goals.

Actis’ early capital return strategy aligns with its broader plan to recycle capital and re-invest in high-growth clean energy opportunities across emerging markets.