WiseEnergy, a solar asset management firm, has signed an agreement with Actis Long Life Infrastructure Fund (ALLIF) for providing comprehensive asset management services for its 550 MWp solar portfolio. The contract is a multi-year contract. The portfolio, comprises four assets located in Andhra Pradesh and Madhya Pradesh. Two of these were acquired last month from Acme Solar Holdings. WiseEnergy will provide end-to-end asset management services, including financial, commercial and technical management, for the projects. The projects were acquired at an enterprise value of Rs 23 billion.
Actis is one of the leading investors in emerging markets across Africa, Asia and Latin America. It was established in 2004, as a spin-off from the UK government’s development finance institution, the CDC Group. Since then, the global investor has raised around $15 billion from over 235 institutional investors, including private and public pension funds, sovereign wealth funds, development finance institutions, and insurance companies. Actis has a multi-asset strategy with investments in private equity, energy, infrastructure and real estate. In the energy domain, Actis primarily invests in large-scale wind, solar and gas-fired power generation assets as well as in the power distribution segment.