Actis launches power biz after buying 49% stake in Shapoorji Pallonji unit

Actis announced Bridgin Power following its acquisition of a 49 per cent stake in the Shapoorji Pallonji group's 220-MW combined cycle gas turbine power plant in Bhola region of Bangladesh

Actis is launching a power generation business that will pursue gas-fired power projects in Southeast Asia, said the investor in sustainable infrastructure on Wednesday.

Actis announced Bridgin Power following its acquisition of a 49 per cent stake in the Shapoorji Pallonji (SP) group’s 220-megawatt (MW) combined cycle gas turbine power plant in the Bhola region of Bangladesh.

The SP group put the plant on sale in 2020 as part of a group debt-reduction exercise.

Bridgin Power will tap into a total commitment of $400 million of equity from the Actis Energy 5 Fund to set up at least 1.2 gigawatts