Actis acquires Fortum’s 500 MW solar power plants in India

Actis, the global infrastructure investment firm, has acquired 500 MW Indian assets of Finland based solar power producer Fortum.

Fortum has signed an agreement to divest the 250-MW Pavagada II and the 250-MW Rajasthan solar power plants in India. The total consideration from the divestment on a debt and cash-free basis, including the effect of deconsolidating of the net debt, is expected to be around EUR 280 million (Rs 24.80 billion). The divestment will be completed and the capital gain recorded in three tranches – during the second half of 2021 and the first half of 2022.

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